To citizens who don’t yet understand or believe the streetcar will be good for Cincinnati, let me share the research I did:
Investing in the streetcar isn’t a big risk of tax dollars. It’s a smart and proven investment. Streetcars attract billions of dollars in private investment, which grows the tax base.
How do we know? Results in other cities:
Portland, Ore. – $3.5 billion in private investment along the streetcar line, most within one block; 7,000 new housing units; 4.6 million square feet of new office, retail and hotel construction.
Seattle – $2.5 billion in development, with Amazon.com locating its headquarters on the streetcar line.
Tacoma, Wash. – 2,000 new housing units, and a 30 percent increase in business along the route. Tacoma’s streetcar runs the route formerly run by a bus; 140,000 people rode the bus, but 730,000 now ride the streetcar, a 500 percent increase in ridership of public transportation.
Little Rock, Ark. – Since its streetcar opened in 2004, the Little Rock Chamber says it’s been “a magnet for new business and development, and key to restoring two downtown areas.”
Wondering about the cities with failed modern streetcar projects? There aren’t any.