PROVIDENCE STREETCAR project 1 summary 2 maps 3 funding - PowerPoint PPT Presentation

PROVIDENCE STREETCAR project 1 summary 2 maps 3 funding project 4 impacts future 5 expansion

project 1 summary W H Y ? THE STREETCAR WILL: spark economic development // create 6,000 new jobs over the next 20 years + 250 construction jobs // increase surrounding property values by $1.1 BILLION // reduce carbon emissions // attract 1,500 new city residents over next 20 years // lower household transportation costs // better connect employment hubs + key attractions W H AT ? a local circulator that will connect College Hill, Capital Center, the Financial District, Downcity, the Hospital District and Upper South Providence { ROUTE LENGTH 2.5 miles END-TO-END TRAVEL TIME 15 minutes FREQUENCY 12-min (peak) 15-20 min (off-peak) STREETCAR STOPS 12 stops, approximately every 800 ft COST $114.37 M (one-time) $3.13 M (annual) H O W ? FUNDING SOURCES PROJECT PARTNERS { { City TIF Bonds [ 47% ] City of Providence Providence Foundation Federal funds [ 34% ] RIPTA Private sector leaders RI Capital Plan [ 13% ] RI Convention Center Authority Other institutions RIPTA CMAQ [ 5% ] State of RI RIDOT land transfer [ 1% ] Brown University 1 PROVIDENCE STREETCAR

“IT IS UP TO METROS TO NOT ONLY BE THE ENGINES OF THE ECONOMY BUT TO BE THE VANGUARD OF CHANGE .” - Bruce Katz, The Brookings Institution PROVIDENCE STREETCAR 2

2 maps S T R E E T C A R S T O P S 3 1 1 thayer st + fones alley 2 2 n main st + washington st providence station 4 3 4 kennedy plaza 5 mathewson st + washington st 5 6 empire st + washington st 7 chestnut st + broad st 6 8 chestnut st + clifford st 9 7 9 ship st square 8 10 chestnut st + elbow st 10 11 richmond st + point st 11 12 point st + hospital st 12 13 rhode island hospital 14 dudley st + culver st 15 dudley st + plain st 13 dudley st + prairie ave 16 14 15 16 3 PROVIDENCE STREETCAR

R E C E N T T R A N S F O R M A T I V E P R O J E C T S The streetcar will TIE together a variety of onoing public + private initiatives targeted at TRANSFORMING the City’s economic health + vitality Kennedy Plaza 111 Westminster I-195 District PROVIDENCE STREETCAR 4

V A C A N T O R R E D E V E L O P A B L E L A N D 3 MILLION SQUARE FEET OF VACANT AND REDEVELOPABLE LAND IS AVAILABLE WITHIN 1/4 MILE OF THE ROUTE I-195/The LINK land vacant land near train station underutilized land in the Hospital District 5 PROVIDENCE STREETCAR

“ACROSS THE NATION, CITIES AND METROS ARE TAKING CONTROL OF THEIR OWN DESTINIES, BECOMING DELIBERATE ABOUT THEIR ECONOMIC GROWTH .” - “The Metropolitan Revolution: How Cities and Metros are Fixing our Broken Politics and Fragile Economy” PROVIDENCE STREETCAR 6

3 funding [ PROJECT PARTNERS ] The partners involved in advancing this initiative reflect a diversity of public and private sector interests related to transportation, higher education, the medical and technology sectors, business and economic development, and community builders. [ CAPITAL COST + FUNDING ] The estimated capital cost for the first segment of the project is $114.37 million (2015 dollars). Funding will come from City TIF Bonds, Federal funds, RI Capital Plan funds, RIPTA CMAQ funds, and a RIDOT land transfer. RICAP RIDOT LAND TRANSFER RIPTA CMAQ CITY TIF BONDS [ ANNUAL OPERATING COSTS ] FEDERAL FUNDS Annual operating costs are projected as $3.13 million in 2018 (the first full year of operations). 7 PROVIDENCE STREETCAR

“WE BELIEVE ONE OF THE SINGLE BEST INVESTMENT OPPORTUNITIES IN THE COUNTRY IS TRANSIT-ORIENTED DEVELOPMENT . THE NUMBER OF CITIES THAT HAVE GOTTEN INTO THE RAIL SIDE OF THINGS HAS GROWN RAPIDLY.” - Ed McMahon, Urban Land Institute senior resident fellow PROVIDENCE STREETCAR 8

project 4 impacts jobs development + growth value ECONOMIC COMPETITIVENESS connections clean mobility energy efficient access transit-oriented LIVABILITY SUSTAINABILITY 9 PROVIDENCE STREETCAR

new jobs NEW JOBS + RESIDENTS new residents ATTRIBUTABLE TO STREETCAR ECONOMIC additional development COMPETITIVENESS additional property value 3,000 2,500 # of jobs / resident 2,000 1,500 1,000 500 3.5 MILLION FT 2 in NEW DEVELOPMENT 0 College Capital Downcity Jewelry Hospital Prairie $ $1.1 BILLION in ADDITIONAL PROPERTY VALUE Hill Center District District Ave. Area 6,000 NEW JOBS new jobs new residents PROJECTED GROWTH AT FULL INCREASE IN PROPERTY VALUE DUE STREETCAR BUILD-OUT (2033) TO NEW DEVELOPMENT square feet of development $2,000,000,000 $1,800,000,000 2,500,000 $1,600,000,000 $1,400,000,000 2,000,000 $1,200,000,000 $1,000,000,000 1,500,000 $800,000,000 1,000,000 $600,000,000 $400,000,000 500,000 $200,000,000 $0 0 2014 2016 2020 2022 2024 2026 2028 2030 2032 2018 Downcity Jewelry Hospital Prairie College Capital District District Ave. Area Hill Center baseline growth streetcar-attributable growth baseline increase streetcar-attributable increase PROVIDENCE STREETCAR 10

better connections better mobility better access LIVABILITY RISD Art Museum = 150,000 annual attendance Children’s Museum = 167,000 annual attendance over 6,700 households 45,000 people passing daily though Kennedy TRANSPORTATION Plaza over 1,000 low- CULTURAL moderate income units VENUES HOUSING 1,300 Amtrak + 2,700 HUBS MBTA passengers passing daily through Providence Station Nearly 50,000 employees Brown University + RISD + J&W 1,300 + businesses University + CCRI + URI Fein- stein Campus COLLEGES + UNIVERSITIES EMPLOYMENT = 24,500+ students WaterFire = more than 1 MILLION visitors per year RI Convention Center = 312,000 visitors + SPECIAL 300 events per year EVENTS DD Center = 800,000 visitors + 120 events per year Providence Performing Arts Center = 475,000 visitors per year 11 PROVIDENCE STREETCAR

more clean air more energy efficiency more transit-oriented development SUSTAINABILITY INCREASE IN TOD TO REDUCE AUTODEPENDENCY Transit-oriented development (TOD) allows the City to strategically use infrastructure to promote sustainable urban growth DECREASE IN OIL CONSUMPTION Streetcars will be electrically-powered, lessening fossil fuel usage DECREASE IN TOTAL # OF TRIPS Drivers will be encouraged to “park once” near the I-195 interchange and use the streetcar within the corridor Streetcars have larger passenger capacity than buses and private vehicles Private shuttle trips operated by Brown University and Rhode Island Hospital will be consolidated DECREASE IN PROJECTED CO 2 EMISSIONS BY 1,400 TONS OVER THE FIRST 30 YEARS 2015 2025 2035 2045 PROVIDENCE STREETCAR 12

“TIGER PROJECTS ARE THE BEST ARGUMENT FOR INVESTMENT IN OUR TRANSPORATION INFRUSTRUCTURE. TOGETHER, THEY SUPPORT PRESIDENT OBAMA’S CALL TO ENSURE A STRONGER TRANSPORTATION SYSTEM FOR FUTURE GENERATIONS BY REPAIRING EXISTING INFRASTRUCTURE, CONNECTING PEOPLE TO NEW JOBS AND OPPORTUNITIES , AND CONTRIBUTING TO OUR NATION’S ECONOMIC GROWTH .” - Anthony Foxx, U.S. Secretary of Transportation 13 PROVIDENCE STREETCAR

future 5 expansion POTENTIAL FUTURE STREETCAR EXTENSIONS PROVIDENCE STREETCAR 14

ORIGINAL PROVIDENCE STREETCAR HISTORIC ELECTRIC RAILWAYS CITY OF PROVIDENCE 1937 ATLAS streetcar in market square streetcar along westminster street 15 PROVIDENCE STREETCAR

STREETCAR LINES AROUND THE COUNTRY seattle tacoma spokane portland boston providence minneapolis boise grand rapids new haven stamford newark brooklyn milwaukee detroit kenosha philadelphia baltimore columbus washington d.c. indianapolis salt lake city sacramento arlington cincinnati denver san francisco kansas city colorado springs winston-salem charlotte memphis los angeles oklahoma city albuquerque atlanta augusta little rock san pedro long beach san diego tempe savannah dallas ft worth tuscon jacksonville gainesville austin new orleans san antonio tampa galveston ft lauderdale miami Historic line in operation Modern line in operation Planned modern line PROVIDENCE STREETCAR 16

PROVIDENCE STREETCAR