Progressive Railroading, 8/4:
Portland Streetcar spurs $4.5 billion in new real estate development, study says
Since 1998, the Portland Streetcar corridor has brought in $4.5 billion in new real estate development, according to new data released by the group that oversees the city's streetcar system.
Portland Streetcar Inc. tapped ECONorthwest to conduct the analysis, which evaluated economic development data outcomes since construction began on the streetcar line in 1998.
Since that time, real estate development has increased by 22.9 million square feet along the streetcar corridor, which is defined as the area within a quarter mile of either side of the tracks.
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