Wednesday, March 26, 2014

Detroit streetcar benefits from MEDC funds

The Detroit, Mich., Woodward Avenue streetcar project has been awarded a 10-year, $10 million Michigan Business Development Program performance-based loan from the Michigan Economic Development Corporation (MEDC).

 

The M1 Rail project is a three-mile modern streetcar project to be constructed along Woodward Avenue from Larned Street in the Central Business District to Grand Boulevard in the New Center area in the city of Detroit.

There are 11 proposed stops along the new transit line, which were strategically selected to connect with Detroit Department of Transportation and SMART bus routes, the Detroit People Mover, Megabus and Amtrak. The project is expected to generate a total capital investment of $130 to $140 million and create up to 41 new permanent jobs.

 

 

 

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