|Project Sponsor / Borrower||
City of Portland
The Portland Streetcar project is a 14.7-mile streetcar network connecting regional activity centers, including the city's Pearl District, Legacy Good Samaritan Hospital, Portland State University, South Waterfront, and the Oregon Museum of Science and Industry in Downtown Portland. The initial 4.8-mile segment opened in 2001 as North America's first modern streetcar line and is credited for its contribution to the revitalization of the city's Pearl District. Subsequent extensions opened in 2005, 2006, 2007, and 2012. Pending funding, a southern link over the Willamette River is planned in conjunction with Tri-Met's Orange Line light rail extension, which will complete the Portland Streetcar Loop. Today, the streetcar network operates as two separate lines with 76 stations and 16 vehicles.As part of an innovative funding package, 13.9 percent of the streetcar network's $251.4 million project cost was funded by a Local Improvement District (LID). In addition, 8.2 percent of the streetcar network's total project cost was funded by Tax Increment Financing (TIF). For the initial phase of the streetcar network, the City designated a TIF district in the South Park Blocks area targeted for redevelopment and placed a lifetime cap on property tax revenues levied in the area. Property tax revenues in excess of those that were currently being levied are dedicated to capital improvements in the area, including the streetcar.
|Project Delivery / Contract Method||
GC/CM (General Contractor/Construction Manager)
|Project Advisors / Consultants||
Stacy and Witbeck (GC/CM)
|Duration / Status||
Initial segment opened in 2001. Subsequent extensions opened in 2005, 2006, 2007, and 2012.
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