Streetcar to Announce Economic Study Results
LA Streetcar Inc
Rendering of the proposed L.A. Streetcar project on Figueroa next to Staples Center
DOWNTOWN LOS ANGELES — Construction of the proposed L.A. Streetcar will generate 9,300 new jobs and $1.1 billion in new development according to study that the project will release at a Tuesday morning press conference.
AEG CEO Tim Leiweke gets top speaker billing in a press announcement sent out this afternoon. He will be joined by Councilmembers Jose Huizar and Jan Perry, Dennis Allen of L.A. Streetcar, Inc., Chris Essel of the CRA, Gary Toebben of the Greater L.A. Chamber of Commerce, and Carol Schatz of the Central City Association.
Also projected are $24.5 million in new annual tourism and consumer spending and $47 million in new city revenue.
The press conference will take place at 9am at the Museum of Contemporary Art's sculpture plaza.
Dion on February 07, 2011, at 11:43PM – #1
it would be really nice if AEG announces that they will fund a majority of the streetcar and a a huge upgrade of the Pico blue Line station!! they could win a lot of brownie points with Downtown residents.
Raymond3000 on February 08, 2011, at 05:07AM – #2
Hopefully this will ignite development of the Figueroa Parcels esp the "LA Central" plot & even put the spotlight on the "forgotten" stretch along Pico Blvd.
Chris Loos on February 08, 2011, at 07:32AM – #3
A streetcar line could do the same for Downtown LA that the line in Portland did for the Pearl District. I would love to see this thing happen.
http://www.buildinggreen.com/articleimages/1609/GoByStreetcar.jpg
http://www.gglo.com/files/Images/Our%20Insight/blueprint/Asa_Apartments_Portland_300_crop.jpg
Carter Rubin on February 08, 2011, at 10:28AM – #4
I hope they do it right and put the streetcar in its own traffic lane. The Portland Streetcar has slowed to an average speed of 7 miles per hour because they put it in mixed traffic.
LAofAnaheim on February 08, 2011, at 11:42AM – #5
Okay, we keep getting this great news about how the streetcar is fantatic for economic investment. Which I 100% agree. However, the CRA decided to give the Broad Museum an EXTRA $10 MILLION out of the blue for their parking structure and yet have not increased their investment on a streetcar, which will spur more investment. If money is lieing around Los Angeles (as evidenced by the CRA's $1 billion chest box), put it towards alternative transportation and no more parking garages in the central urban area! LA already has a near 500,000 parking spaces...why did the CRA give $10 million more to Broad to increase the parking from 270 to 360 spaces...bar none ridiculous. Put it towards real solutions..the streetcar!! Enough studying, start funding!!