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Speaking of streetcars, soapboxmedia.com had an interesting article in their newsletter today about the economic impact of streetcars on an area. Below is the article and it's URL.
Downtown - Proposed streetcar plan is economically worthwhile, economist reports
Cincinnati is on the right economic track in considering a streetcar system, says University of Cincinnati economist George Vredeveld. Vredeveld and his Economics Center for Education and Research scrutinized a study of potential streetcar benefits done by consulting firm HDR. The likely average net economic payoff of $315.8 million, as estimated by HDR over a 35-year period, is sound, as is HDR’s most conservative net economic payoff estimate of $186.8 million over 35 years. Even if this most conservative payoff comes to pass, “the proposed streetcar system is economically worthwhile," says Vredeveld.
The current proposal for a Cincinnati streetcar system calls for a four-mile looped system that travels from Cincinnati's riverfront, near the stadiums and the Banks project, through downtown north into Over-the-Rhine, with stops at Music Hall and Findlay Market, and then on to UC. The UC report says the proposed route is a plus because systems that link major activity centers (employment, shopping and recreation) generally experience higher levels of ridership.
Writer: David Holthaus
Source: M.B. Reilly, University of Cincinnati