ARLINGTON, Va. – Arlington County Manager Barbara Donnellan invites the media to a briefing on the new return on investment study for the Columbia Pike streetcar. County officials and the study authors will discuss how the investment in streetcar would affect the County’s real estate development, job growth and tax revenues.
The County announced in September 2013 its plan to update the streetcar’s projected return on investment to reflect new population and employment projections for the corridor. The analysis also compared streetcar to enhanced bus service, which would use larger buses and have some service features similar to a streetcar.
The County retained HR&A Advisors, Inc., an industry-leading real estate and economic development consulting firm, to conduct the update. HR&A conducted extensive research and data analysis regarding other cities’ experiences with streetcar and bus alternatives, assessed local real estate conditions, and interviewed local developers and retailers.
Wednesday, March 26, 1-2 p.m.
2100 Clarendon Blvd, Conference room 311, Arlington, Va. (Note: Room 311 is the glass enclosed conference room in the 3rd floor atrium lobby.)
For questions: Contact Eric Balliet, Communications Specialist, Arlington County Department of Environmental Services: Eballiet@arlingtonva.us, 703-228-3770.
Arlington, Va., is a world-class residential, business and tourist location that was originally part of the "10 miles square" parcel of land surveyed in 1791 to be the Nation's Capital. Slightly smaller than 26 square miles, it is the geographically smallest self-governing county in the United States, and one of only a handful with the prized Aaa/AAA/AAA bond rating. Arlington maintains a rich variety of stable neighborhoods and quality schools, and has received numerous awards for Smart Growth and transit-oriented development. Home to some of the most influential organizations in the world -- including the Pentagon -- Arlington stands out as one of America's preeminent places to live, visit and do business.