Presentation on theme: "Summary As a component of our Transit Oriented Development (TOD) Policy, CAT has evaluated the conditions affecting transit throughout the City of Savannah."— Presentation transcript:
Summary As a component of our Transit Oriented Development (TOD) Policy, CAT has evaluated the conditions affecting transit throughout the City of Savannah. Based on our evaluation of these conditions, CAT supports incorporation of a streetcar into Savannahs public transit system as an ideal mechanism to: Overcome constraints to development generated by a lack of area infrastructure, less than efficient transportation system and inadequate physical connections. Attract desirable private development, including professional jobs, lodging facilities, retail and area services, and residences. Improve public safety, increase population density, further diversity, and increase employment opportunities. CAT proactively embraces its role as the Regional Mobility Manager.
Savannah Streetcar CAT is proposing the Savannah Streetcar as an essential investment for improving accessibility and modal connectivity, and shaping a new, sustainable path for community development. Savannah Streetcar will transform the City of Savannahs urban core by providing seamless connectivity between Savannahs National Landmark Historic & Central Business District and the East and West Downtown Savannah gateways. Both gateway areas are predominately low and moderate income, minority communities, while Savannahs National Landmark Historic & Central Business District is one of the regions largest employment and tourism centers. With the Savannah Streetcar as its central link, Savannahs urban core will expeditiously merge and grow into a more livable and affordable community with a healthy mix of land uses, housing units and income groups.
Savannah Streetcar System This stage of the streetcar system is the first of several planned stages aimed toward connectivity between Downtown Savannah and mid-town Savannah, including revitalizing the Wheaton Street, Waters Avenue, Montgomery Street, and DeRenne Avenue corridors. The east-west transit spine of the streetcar will eventually link all transit corridors to Savannahs core urban area, offering a viable alternative for automotive transport. It will also facilitate a connection between national, regional and inter-regional services since the Joe Murray Rivers, Jr. Intermodal Transit Center on West Oglethorpe serves as Savannahs hub for Greyhound and inter-city bus transportation.
Savannah Streetcar Stages 1 - 4
MLK Blvd. Walkability Plan from Savannah Development and Renewal Authority (SDRA) Streetcar Revitalization
Savannah Streetcar Stage 1 Alignment Description Length: 18,300 linear feet of double track: From MLK at the Savannah River to Gwinnett Street From MLK west on River Street to Fahm From Fahm south to Turner Number of vehicles: Four (4) streetcars Number of stops: Twenty (20) curb-side stop locations Frequency of service:10 to 15 minutes with 20 minute headways Hours of operation: 6 AM to 11 PM Monday through Thursday 6 AM to 12 AM on Friday 8 AM to 12 AM on Saturday 9 AM to 7 PM on Sunday Maintenance facility: Fahm Street at West Oglethorpe Avenue Transfer centers: Transit Fahm and West Oglethorpe Transit MLK and West River Street
Savannah Streetcar Stage 1 Impact Area In 2013, CAT opened the Joe Murray Rivers, Jr. Intermodal Transit Center on West Oglethorpe at Fahm Street: The area in which this major transit center is located – the Yamacraw Village / Bay Street Viaduct neighborhood (Census Tract 1) – will transform over the next five to ten years. According to the U.S. Census, there were 1,585 persons living in 330 total housing units within Census Tract 1 in Construction in Census Tract 1 is aged 35 to 50 years. The area has experienced only minor improvements in recent years and a predominance of the structures in the area have deteriorated over time.
New Development – Stage 1 Impact Area New development on twenty-seven (27) private parcels within the Yamacraw Village / Bay Street Viaduct area are currently in construction or will begin redevelopment over the next five years and will result in: More than a doubling of the number of persons living in the area. More than 1,100 new hotel rooms representing 550 hospitality jobs. New retail / restaurant space to support as many as 900 office jobs and 1,600 jobs in the retail / restaurant sector.
New Development – Stage 1 Impact Area Economic and fiscal impact forecasted from this new development includes: More than $5.5 million in new property tax annually. $19 million in new sales tax proceeds annually, of which $2.7 million would be allocated to the City. $2.4 million in new hotel occupancy tax annually. The result of this new development will be a dramatic and significant increase in demand to access the area – as many as 12,000 new automotive trips in and out of the area on a daily basis.
West Downtown Tax Allocation District Stage 1 of the streetcar system would reduce automobile traffic by providing access to the area via the streetcar and ferry system from the Visitors Center, the Intermodal Transit Center, and the west end of River Street: CAT is asking the City to establish a base line of property values for a West Downtown TAD effective December 31, CAT is not asking the city to issue a bond at this time.
West Downtown Tax Allocation District
Stage 1 – Cost-Benefit Analysis Streetcar development cost – Stage 150,000,000 Ferry MLK & West River St1,000,000 Debt service reserve & transaction cost4,000,000 Total cost (estimated)$55,000,000 New value - 27 private parcels $500,000,000 Total cost$55,000,000 New value to cost ratio over five years9:1
Cost-Benefit Analysis – Similar Cities CityStreetcar Infrastructure Cost Development Investment along Route Return on Investment Portland, OR$103.2 million$3.5 billon34:1 Little Rock, AR$28 million$400 million14:1 Tampa, FL$48.3 million$1 billion21:1 Kenosha, WI$5.2 million$150 million29:1 Memphis, TN$104.3 million$2 billon19:1 Providence, RI$126 million$1.1 billion9:1 Source: Providence Core Connector Study / Rhode Island Public Transit Authority 2013
Savannah Streetcar Considerations regarding potential funding for cost to build and operation: Federal Transit Administration (FTA) - Competitive Grant Process – TIGER – Small Starts – New Starts Local – East Downtown TAD Bond of $3.6 million for alignment and $10 million for Intermodal Facility. – Eliminates need to raise ad valorem taxes. Letters of support from stakeholders and funding match to support Federal funding.