A while ago, the Office of Planning commissioned a study on how the proposed 37-mile streetcar system will affect jobs, property values, tax revenues, and other big economic metrics in the city. Last month, it even won the Congress for the New Urbanism’s 2011 Charter Award and the New Urban Network’s plan of the month award, sending out ripples of excitement with its projected $5-8 billion in new development in the ten years after the completion of the entire system.
But the Office of Planning never actually released the whole study. Today, they posted the nicely-formatted executive summary, which runs through all the great things that District residents can expect when the system finally gets built. Among the promised benefits:
- Bringing 72,000 households into walkable distance of premium transit, guaranteeing them access to more than 85% of the District’s office jobs and more than half of all jobs
- Could draw new households and retain existing ones at rate of 1,400 per year and increase the proportion of District workers who also live in the District from 31.5 to 34 percent over ten years after the system’s completion.
- Will generate $238-291 million in tax revenue annually within 10 years of completion of system (Harry Jaffe, take note!).
I’m pretty interested in how they arrived at those numbers, so I’ll be waiting for the whole thing, which is apparently “still under development.” But it’s pretty clear that OP and the District Department of Transportation will be using this to get the thing financed, as well as sell it to communities down the lines.