Virginia adds $65 Million to new streetcar line

[spuwho]

Per Trains NewsWire:

Virginia to add $65 million to streetcar project

RICHMOND – Virginia will increase state funding for the Washington, D.C.,-area Columbia Pike streetcar project by up to $65 million, despite local controversy surrounding the project.



The Washington Post says the long-planned streetcar line, which is expected to run from the Skyline area of Fairfax to the Pentagon City Metro station, has been projected to cost about $358 million. Arlington reduced that projection to $333 million last week because of the faster completion time. County officials hope the project will be finished by 2020.

Sharon Bulova, chairman of the Fairfax County Board of Supervisors, called the additional money, which will be nearly half of all design and construction expenses, "a sound investment," that "will help transport one of the region's most important corridors."

The money will come from $216.5 million budgeted over a six-year period for "fixed guideway" projects and is not affected by the general revenue budget crunch, Gov. Terry McAuliffe said last week.



A county-funded study noted that the streetcar project would generate $3.2 billion to $4.4 billion in new real estate value for Arlington and Fairfax counties over 30 years while producing $455 to $895 million in new tax revenue for both counties.

[ProjectMaximus]

Those projections for increased tax revenue are astonishing. I find it a bit dubious but not impossible.

Very jealous of the ever-expanding rail network in DC. I'm not sure how effective riding the H Street line is, but there's no denying it's transformed much of the area through which it runs. (Actually just drove down the street today and given the traffic conditions there I'd imagine it is often faster to walk than ride) Still, the real estate investment and TOD is no joke. I'm not familiar with Columbia Pike but I'd imagine it's a good corridor for building density around.

[thelakelander]

^How long are you in DC, ProjectMaximus?  I'm meeting up with some Next City Vanguards at 6:30pm in a bar in Dupont Circle. Feel free to drop by if you can spare an hour two and I'll introduce you to some great people.

[ProjectMaximus]

^Here through the weekend. haha, I got your email and DM as well...thanks for thinking of me.

I doubt I can make it this evening...really disappointed. Pretty much any other day would have been workable accept today

[thelakelander]

I'm here until Monday. I'm here for a family reunion and a few West Coast vanguards are in town for a conference. I'll check tonight to see what other's schedules may be over the next few days.