Met Council: Light Rail-Adjacent Development Up $1.6 Billion Last Year

KSTP.com

Date: Wednesday, February 14, 2018
The Metropolitan Council says developers have added $8.4 billion in investment along current and potential metro light rail corridors since the transit-ways were added to the Twin Cities landscape.

The agency says that number could be higher as many projects along the lines,  including 24 of 41 project on the Blue Line, have not yet publicly disclosed their project value, according to a release. 

The Met Council says it tracks proposed, under construction or completed developments along the existing Green and Blue lines and their proposed extensions.

"In the past year alone, we have seen an increase of $1.6 billion for a total of $8.4 billion in development along LRT lines," Met Council Chair Alene Tchourumoff said, according to the release. "Businesses and developers choose proximity to light rail because they know that residents and workers of all ages are increasingly demanding access to transit – whether for housing, work, school, or entertainment."



 

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Source: KSTP.com

Link: http://kstp.com/traffic/metropolitian-council-light-rail-development-16-billion-84-billion-blue-line/4788395/?cat=12685

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