Metro Gold Line Has Resulted in $6.7 Billion in Private Investment
A report by real estate and business consulting firm, The Maxima Group, that studied the existing and potential economic impact of transit related projects along the Foothill Gold Line from Los Angeles to Montclair, found that existing and underway projects near the 18 Gold Line stations from Chinatown to Montclair have resulted in $6.7 billion in private investment along the corridor since 2003. More than 12,500 new housing units, 3.6 million square feet of commercial space, and 1,400 hotel rooms have been built within a half-mile radius of a Gold Line station. These investments have resulted in the creation of nearly 50,000 direct and indirect jobs during construction, 20,000 on-going jobs for Los Angeles County workers, and $50 million in annual tax revenues to the county.
Source: Press release
- Brad Haugaard
Posted by Brad at 10/25/2016