Until recently, I was one of the many people who didn’t understand how the streetcar could benefit Cincinnati. I was among those who would ask “why can’t we just improve the bus system?” without understanding the benefits that a fixed rail system could add as a supplement to our current bus system.
Studies have shown that streetcars will bring more much needed jobs to the city of the Cincinnati, adding additional revenues. There are currently 92 acres of land dedicated to parking in the Over the Rhine loop. By adding the additional, easily accessible public transportation that the streetcar offers, the city can convert some of the parking structures into new businesses and housing options. The streetcar benefits the downtown economy in other direct ways. The route along the streetcar provides prime location to what could be your new favorite restaurant, or a beautifully renovated office space.
According to a feasibility study from the City of Cincinnati, the streetcar is expected to generate 2.7 times the initial investment over 35 years. The revenue from the streetcars provide additional revenue to our public school systems, thus helping to positively impact property values.Though the physical streetcar will reside downtown, the money being fueled back into the Cincinnati Public School system benefits every neighborhood. It adds additional funding not only to downtown initiatives, but overall Cincinnati roads, law enforcement, parks and other city infrastructure. Though it may take some time, Cincinnatians living in the suburbs will also feel the benefits of the streetcar, image how convenient it could be to take a short streetcar ride from Procter and Gamble to UC or from Findlay Market to a Bengal’s game.
Information via city of City of Cincinnati
Eloquent words from our mayor. Common sense, simple common sense.
In terms of pure economics, nothing can offer a quicker return than a fixed rail in the city core.
Its an investment, and its a good one.
I think this is verging on gentrification, which lends itself to a whole new discussion.
Gentrification? How so?