The Metropolitan Council (Minn.) has tracked $4.2 billion in development along the existing Metro Green Line, a jump from the calculated $3.2 billion last fall.
“The continued development along the Green Line tells a story of how transit investment can transform communities while better connecting people to the entire region,” said Met Council Chair Adam Duininck. “The Green Line success story illustrates exactly why transit is such a good investment for our communities. At a cost of $957 million – half of that covered by the federal government – the Green Line has provided a serious return on investment for Minnesotans.”
Saint Paul Mayor Chris Coleman says he is pleasantly surprised by the pace of development.
“Though we always expected development to follow the LRT, this pace is ahead of expectations,” said Mayor Coleman. “Original projections called for $7 billion worth of development along the line over 30 years. After just five years (three years of construction and almost two years of operation), we are already halfway to our goal. And we are absolutely hearing from developers that the Green Line is driving their investments.”
The region is now seeing a similar dynamic along the planned Southwest LRT (SWLRT). The Met Council has tracked $430 million in development, either finished or underway on the extended route. The Blue Line Extension (Bottineau LRT) has also seen $358 million of development in various stages.
This development comes even before construction has begun on either line. Heavy construction is scheduled to begin in 2017 for SWLRT and 2018 for the Blue Line Extension.
In addition to spurring development, SWLRT is expected to create at least 7,500 jobs totaling at least $350 million in payroll to workers and contractors across the state.
