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8 major public transportation expansion projects

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U.S. submarkets with public transportation outperform the national office market for vacancy, rents and development levels. The reason? More and more workers are demanding offices served by public transportation and so are companies to recruit and retain talent.
This shift in market dynamics coincides with the push for more public transportation infrastructure by voters and elected officials across the country. Take a look at some of the largest public transportation projects across the United Sates.

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8 major public transportation expansion projects

  1. 1. 8 major public transportation expansion projects United States March 23, 2017
  2. 2. Measure M, Purple/Expo/Crenshaw Lines Los Angeles, CA On November 8, 2016, Measure M passed in Los Angeles with 69.8 percent on the vote. Measure M will fund a northern extension of the Crenshaw Line to West Hollywood, as well as a broader improvement in the Sepulveda Corridor. 1 $61.5B in transportation operations and expansion 40 years over
  3. 3. Transbay Terminal, Central Subway San Francisco, CA Transbay Terminal sits at the heart of a broader redevelopment area with deliveries expected in early 2020s: The Central Subway will provide increased rail transit in the heart of city, easing commutes from Silicon Valley and the Peninsula and further encouraging reverse commuting. 2 $6.0M+ square feet of office space 4,400 residential units 100K+ square feet of retail space 1,000 hotel rooms
  4. 4. ST2, ST3 Seattle, WA In 2008 and 2016, Puget Sound voters passed ballot measures known as ST2 and STC to increase funding for long-term transportation projects at the local level. Through 2040, these two measures would expand light rail service by roughly 41 miles. 3 8.5% metro population growth since 2010 12.5% Seattle proper population growth since 2010
  5. 5. FasTracks Denver, CO Denver enacted FasTracks in 2004 to ultimately build 122 miles of new rail lines, as well as complementary bus rapid transit through 2020. These lines will ease flow into the Downtown core and fringe and provide connections to Denver International Airport, as well as the fastest-growing northern and southern suburbs. 4 10.7% metro population growth since 2010
  6. 6. Brightline Miami, FL The Florida East Coast Railway is investing in Brightline, a higher-speed regional rail service connecting Miami, Fort Lauderdale and West Palm Beach with a potential expansion to Orlando. MiamiCentral will be come the largest public transportation facility in South Florida. 5 28K square feet of office space is currently under construction at Miami Central
  7. 7. T-SPLOST, MARTA referandum Atlanta, GA In an effort to combat congestion and improve local mobility, Atlanta voters approved a T-SPLOST, a 0.4- cent sales tax, in November 2016. On the same day, voters across the larger metro area agreed to implement a half-cent sales tax to fund MARTA expansion. 6 $3.3B combined funding
  8. 8. Silver Line Washington, DC The Silver Line represents the longest extension of the Washington Metro system since the completion of the original system plan in the early 2000s. The Line will run parallel to Dulles Toll Road, which is the center of the Northern Virginia economy and home to a significant number of its largest employers. Its construction has already catalyzed millions of square feet of office development, including the extension of Reston Town Center and the urbanization of Tysons Corner. 7 11.7 miles in Phase 1 11.5 miles in Phase 2, scheduled to open in 2019
  9. 9. Second Avenue Subway, East Side Access New York, NY The first phase of the Second Avenue Subway opened after a decade of construction on January 1, 2017. The full Second Avenue Line, if and when funded, is planned to be built in three additional phases. 8 200K+ projected daily riders 3 new stations between 96th and 63rd Streets 8.5 miles long 16 stations 560,000 projected daily riders $17B development costs
  10. 10. © 2017 Jones Lang LaSalle IP, Inc. All rights reserved. The information contained in this document is proprietary to JLL and shall be used solely for the purposes of evaluating this proposal. All such documentation and information remains the property of JLL and shall be kept confidential. Reproduction of any part of this document is authorized only to the extent necessary for its evaluation. It is not to be shown to any third party without the prior written authorization of JLL. All information contained herein is from sources deemed reliable; however, no representation or warranty is made as to the accuracy thereof. us.jll.com Like what you’ve read so far? Find out why these markets are poised for long-term success. Download JLL’s latest transit-served market analysis

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