Forbes is reporting that a group of private entities are talking about putting up the money to build a 3.4 mile long streetcar system running up Woodward Avenue.\u00a0\u00a0 The city and state can’t justify the money necessary to get the matching funds.\u00a0\u00a0 The cost is estimated for the entire project was around $500 million.<\/p>\n
One snag is Detroit doesn’t actually have any transit authority to run it, but that little detail will be worked out later.<\/p>\n
http:\/\/www.forbes.com\/sites\/joannmuller\/2012\/05\/30\/private-funding-of-detroit-rail-project-is-a-gift-horse-the-feds-cant-ignore\/<\/p>\n
Kresge’s is the original name for K-Mart\u00a0\u00a0 (Kresge’s 5&10 cent)….\u00a0 GM (bailout), Chrysler (bailout), the Ford Foundation (not to be confused with the Ford Motor company), the founder of Quicken Loans, Little Caesar’s pizza and Roger Penskie are named as offering to put up money…<\/p>\n
Any time you’re talking about building public transit, it’s important to ask who will ride this and why?\u00a0\u00a0 The $500 million version of the streetcar system was going to run from downtown out to around the city limits at 8 mile road – this scaled back system would run from the Renaissance Center (now GM’s headquarters) to the old GM building in the New Center area (where the Golden Tower of WJR-AM is located).\u00a0 New Center was the last part of Detroit to die as it had a lot of support from GM, which provided enough security that the few blocks around it was relatively safe.<\/p>\n
What used to be downtown Detroit has mostly been flattened and made into parking lots for the replacement for Tiger Stadium (Comerica Field) and the venue for the Lions, Ford Field.<\/p>\n","protected":false},"excerpt":{"rendered":"
Forbes is reporting that a group of private entities are talking about putting up the money to build a 3.4 mile long streetcar system running up Woodward Avenue.\u00a0\u00a0 The city and state can’t justify the money necessary to get the … Continue reading