Those of you who have been to Portland have been able to see first-hand how transformative their modern streetcar system has been. Several neighborhoods have seen massive private investment as a result of the system’s various lines, and the latest extension east across the city’s river is now causing the same impact there.
Hassalo on Eighth, a $200M mixed-use development, is the largest in the city’s history and sits right on the streetcar line. It is located in a part of town called the Lloyd District, which has long been dominated by automobile-oriented buildings.
The new project has already torn down parking garages and will replace them with a 21-story tower, a 6-story structure and a 5-story building. Those three buildings will house 657 residential units and 58,000 square feet of commercial space. The project will also retrofit 240,000 square feet of existing commercial space.
Modern streetcar systems have the ability to be game changers if done right. Cincinnati’s will be no different.
Instead of investments being focused on cars (parking garages and travel speeds), they will be focused on people and how they move about their urban environment.
We may not see a massive $200M project like this along the first phase of the Cincinnati Streetcar, but there is no doubt that a project like this will come along at some point. And that will just be the icing on the cake after all of the other private investments.