“The Economic and Fiscal Impacts of
Development near DART Stations”
• Public development produced an economic impact
of $3.36 billion for the Dallas-Fort Worth region
• Public development near DART stations created 20,741
construction jobs in the Dallas-Fort Worth region
• Public development created $1.3 billion
in employee compensation
• Public development generated $105 million in state and
local taxes, and $278 million in federal tax revenue
dart.org/about/economicimpact.asp
22 | Mass Transit | MassTransitmag.com | JUNE 2018
Milwaukee’s New Streetcar Will Provide
Transit, Economic Development
When Milwaukee city officials envisioned a new
streetcar system that would start in downtown
area neighborhoods, they not only saw a way
to move residents, employees and visitors, they
also saw a tool for economic development.
The streetcar system called The Hop is already
achieving the goal of city-building, ahead
of its expected opening in November 2018.
New high-rise office towers and apartment
complexes have been announced along the
streetcar’s initial and expansion routes.
One such project is the new 25-story BMO
Harris Bank tower, a $132.6 million project
that will sit along the streetcar line and is
expected to be complete in December 2019.
Another project is the $125 million 44-story
mixed-use tower, the Couture. Located along
the city’s lakefront, it will include a podium for a
streetcar stop. That podium also will act as a transit
concourse to be served by both The Hop and the
local bus rapid transit route, said Ashley Booth,
National Streetcar Practice Leader for HNTB
MassTransitmag.com/12409384
Economic Driver
RANSIT AGENCIES ARE LOOKING AT WAYS TO QUANTIFY
the wide range benefi ts of transit, beyond ridership, including
generated tax revenues, real estate development and the many
ways in which it contributes to a community’s economic vitality. T
For more information, visit www.MassTransitmag.com/10065851
Metro
The Washington Metropolitan Area Transit Authority did a
study which highlighted the impact of transit:
• $235 billion of property value is within a half-mile of
Metrorail stations.
• This land generates $3.1 billion annually in property tax
revenues.
• This land represents 28% of the jurisdictions’ property
tax base, but only 4% of their land.
• Proximity to Metrorail increases property values by 7-9%.
wmata.com/initiatives/case-for-transit/
/economicimpact.asp
/MassTransitmag.com
/12409384
/10065851
/
/www.ltk.com