Who says Bus Rapid Transit (BRT) can’t spur development? I know I’m probably in the minority, but I think a combination of attractive stations, modern vehicles, and real-time arrival information would be nearly as effective as a streetcar at spuring transit oriented development (TOD). I assume there would be cost savings associated with not building the tracks and overhead catenary wire. Maybe that savings would be enough to run the route all the way to OSU?
Euclid Corridor project helps drive $4 billion in Cleveland development
by Steven Litt / Plain Dealer Architecture Critic
Sunday February 10, 2008, 12:00 AM
Amid all the bad news about Cleveland’s economy, one big, positive number is sure to impress all but the most hardened cynics: $4.3 billion. That’s how much fresh investment — conservatively speaking — is being poured into the four-mile-long strip of land flanking Euclid Avenue, the city’s Main Street, between Public Square and University Circle.
…Private developers with proven records as doers, not speculators, are gearing up to start projects worth more than $1 billion along the corridor in the next five years or so. They include Douglas Price III, Nathan Zaremba, Ari and Richard Maron, and Gordon Priemer.
The amounts they and nonprofit institutions are investing will easily dwarf the money spent by government and partners in the 1990s on sports stadiums and the Rock and Roll Hall of Fame and Museum.
One big reason for the energy is the Greater Cleveland Regional Transit Authority’s $200 million Euclid Corridor project, which is reshaping Euclid Avenue around a bus rapid transit line.
…Planning literature is packed with proof that streetcars and light rail inspire “transit-oriented development.” So far, it seems, bus rapid transit is doing the same in Cleveland.
The $4.3 billion figure cited above is based on news stories and interviews with developers. It doesn’t include the $200 million Euclid Corridor project itself. Nor does it include projects such as developer Scott Wolstein’s upcoming $400 million redevelopment on the east bank of the Flats, or Robert Stark’s proposed $1.5 billion development in the Warehouse District.
Nevertheless, the numbers are adding up quickly as momentum builds.
“Every day, more projects are being planned,” Goldberg said. “At a certain point, you reach a critical mass and it becomes self-sustaining.”