Quote:
Originally Posted by chadpcarey
Alexjon -
Of course, we're in agreement that it can serve as an incredible generator for urban development.
But my point was the operating a streetcar line is not, in and of itself, profitable, in any sense. Very expensive to build, very expensive to operate. It would need to be massively subsidized for a LONG time. Still, I would aruge it's worth pursuing, irrespective of it's "profitibility".
Chad.
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What percentage of transit systems are profitable anyway? Remember, now, that by focusing on that aspect of transit -- the tax and spend of transit development -- you are forgetting the sum of benefits far outweighs what you have in investment.
In the example of Portland, they wanted more people living and working downtown, and to bolster the development of a "new" neighborhood. They've succeeded. The streetcar is a large part of the success of the Pearl District, which, similar to your development(s) is a formerly undesirable area that was rehabbed and made easily accessible to downtown.
And the feds have no problem with it, and with an oregon firm rolling out streetcars in the next few years, it really is a thing to consider.
But then again, this IS what worked for a successful neighborhood development that raked in billions in devel money. You could be angling for something else or on a smaller more basic scale.