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

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project summary

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maps

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funding

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project impacts

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future expansion

PROVIDENCE STREETCAR

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project summary

1 PROVIDENCE STREETCAR

W H AT ? H O W ?

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) FUNDING SOURCES City TIF Bonds [ 47% ] Federal funds [ 34% ] RI Capital Plan [ 13% ] RIPTA CMAQ [ 5% ] RIDOT land transfer [ 1% ] PROJECT PARTNERS City of Providence RIPTA RI Convention Center Authority State of RI Brown University Providence Foundation Private sector leaders Other institutions

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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

“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

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maps

3 PROVIDENCE STREETCAR

S T R E E T C A R S T O P S

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

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

PROVIDENCE STREETCAR 4

111 Westminster Kennedy Plaza

The streetcar will TIE together a variety of

• noing public + private

initiatives targeted at TRANSFORMING the City’s economic health + vitality

I-195 District

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

I-195/The LINK land

vacant land near train station

underutilized land in the Hospital District

5 PROVIDENCE STREETCAR

3 MILLION SQUARE FEET OF VACANT AND REDEVELOPABLE LAND IS AVAILABLE WITHIN 1/4 MILE OF THE ROUTE

“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

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funding

[ 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. [ 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. CITY TIF BONDS RICAP RIDOT LAND TRANSFER FEDERAL FUNDS RIPTA CMAQ [ ANNUAL OPERATING COSTS ] 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

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project impacts

9 PROVIDENCE STREETCAR jobs development + growth value

ECONOMIC COMPETITIVENESS SUSTAINABILITY LIVABILITY

connections mobility access clean energy efficient transit-oriented

new jobs new residents additional development additional property value

ECONOMIC COMPETITIVENESS

College Hill Capital Center Downcity Jewelry District Hospital District Prairie

• Ave. Area

500,000 1,000,000 1,500,000 2,000,000 2,500,000 baseline growth streetcar-attributable growth

PROJECTED GROWTH AT FULL STREETCAR BUILD-OUT (2033)

square feet of development

NEW JOBS + RESIDENTS ATTRIBUTABLE TO STREETCAR

500 1,000 1,500 2,000 2,500 3,000

# of jobs / resident

College Hill Capital Center Downcity Jewelry District Hospital District Prairie

• Ave. Area

new jobs new residents

baseline increase

streetcar-attributable increase

INCREASE IN PROPERTY VALUE DUE TO NEW DEVELOPMENT

2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 $0 $200,000,000 $400,000,000 $600,000,000 $800,000,000 $1,000,000,000 $1,200,000,000 $1,400,000,000 $1,600,000,000 $1,800,000,000 $2,000,000,000

PROVIDENCE STREETCAR 10

6,000 NEW JOBS 3.5 MILLION FT 2 in NEW DEVELOPMENT $1.1 BILLION in ADDITIONAL PROPERTY VALUE

$

better connections better mobility better access

LIVABILITY

Brown University + RISD + J&W University + CCRI + URI Fein- stein Campus = 24,500+ students SPECIAL EVENTS COLLEGES + UNIVERSITIES EMPLOYMENT HOUSING CULTURAL VENUES TRANSPORTATION HUBS Nearly 50,000 employees

1,300 + businesses

• ver 6,700 households
• ver 1,000 low-

moderate income units WaterFire = more than 1 MILLION visitors per year RI Convention Center = 312,000 visitors +

300 events per year

DD Center = 800,000 visitors +

120 events per year

Providence Performing Arts Center =

475,000 visitors per year 45,000 people passing

daily though Kennedy Plaza

1,300 Amtrak + 2,700

MBTA passengers passing daily through Providence Station RISD Art Museum = 150,000 annual attendance Children’s Museum = 167,000 annual attendance

11 PROVIDENCE STREETCAR

more clean air more energy efficiency more transit-oriented development

SUSTAINABILITY

DECREASE IN OIL CONSUMPTION

Streetcars will be electrically-powered, lessening fossil fuel usage

DECREASE IN PROJECTED CO 2 EMISSIONS BY 1,400 TONS OVER THE FIRST 30 YEARS

2015 2025 2035 2045

PROVIDENCE STREETCAR 12

INCREASE IN TOD TO REDUCE AUTODEPENDENCY

Transit-oriented development (TOD) allows the City to strategically use infrastructure to promote sustainable urban growth

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

“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

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future expansion

PROVIDENCE STREETCAR 14

POTENTIAL FUTURE STREETCAR EXTENSIONS

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streetcar in market square streetcar along westminster street

CITY OF PROVIDENCE 1937 ATLAS

HISTORIC ELECTRIC RAILWAYS

ORIGINAL PROVIDENCE STREETCAR

portland

Historic line in operation Modern line in operation Planned modern line

seattle spokane tacoma boise salt lake city denver colorado springs sacramento san francisco los angeles san pedro long beach san diego tempe tuscon albuquerque

• klahoma city

kansas city indianapolis kenosha milwaukee minneapolis grand rapids detroit columbus cincinnati boston providence new haven stamford brooklyn newark philadelphia baltimore washington d.c. arlington winston-salem charlotte augusta savannah jacksonville gainesville ft lauderdale miami tampa new orleans galveston san antonio austin ft worth dallas little rock memphis

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atlanta

STREETCAR LINES AROUND THE COUNTRY

PROVIDENCE STREETCAR