Even before a shovel has been put into the ground, the Hartford-New Britain Busway project is already leading developers to invest millions of private dollars in the areas around future busway stations.
According to Gerry Amodio, executive director of the New Britain Downtown District, there are plans for a $35 million mixed-use development near the proposed Cedar Street bus station in Newington. Mr. Amodio also spoke of developers in New Britain who are purchasing and upgrading property near future busway stations. “A mixed-use property near the downtown New Britain station was recently bought for $325,000, and an additional $125,000 has been invested for improvements,” said Mr. Amodio.
Elsewhere in New Britain, according to Mr. Amodio, restaurants and nightlife spots are using their dollars to revitalize the business environment—a restaurant on Main Street invested in $300,000 of upgrades to cater to students from the nearby Central Connecticut State University, who are expected to visit the area via the busway. And the new owners of another restaurant attached to the LaQuinta Hotel, directly across the street from the New Britain Downtown Terminal, invested $1.2 million in redevelopment funds to prepare for the busway’s arrival.
The City of New Britain is also doing its part to make the areas around busway stations walkable, bikeable, and livable. The city has secured almost $2 million in streetscaping grant funding, $110,000 from the National Parks Service to construct wayfinding signs, and $750,000 in state grants to support transit-oriented development. The city is also set to receive a $3.2 million Federal Transit Administration Bus Livability Grant in July. The increased foot traffic on the new, pedestrian-friendly streets should bring even more business to the city’s downtown.
The influx of investment near busway facilities comes as no surprise in light of the numerous studies that have shown a correlation between rising property values, economic development, and proximity to bus rapid transit stations. A recent letter to the editor written by Tri-State, Transit for Connecticut, and the Capitol Region Council of Governments said as much, and highlighted the even greater potential for future development along the corridor.
Too bad they didn’t do it right and CHEAPER with light rail or regional rail. Losses will be HIGHER with Bus and ridership LOWER. Since the right of way IS a rail right of way relaying the rail would have been cheaper (no shoulders needed) and the speeds at grade crossings higher (DID ANYONE research the speeds at grade crossings on the Los Angeles Orange Line and the Miami Busway?). If by some miracle this can be halted, someone should have the guts to do so.
[…] on the political balancing act that goes hand in hand with transit expansion in Atlanta. Mobilizing the Region reports that there’s a development boom going on around stations for the new busway planned […]
Empty busses!
I look around and all I see is empty busses busily running to and fro.
Maybe one, maybe two passengers sitting in the otherwise empty rows.
$1,000,000,000.00 is a lot of dough for empty busses busily running to and fro.
While BRT works in some situations, this is not one. This project is fraught with engineering difficulties, particularly in Hartford. While I come at this with a bias towards rail, in this case, rail would have been much wiser. I’m really surprised TSTC is still pimping this project.
[…] Gerratana argued that the transit project would lead to significant economic development, using this Mobilizing the Region post as evidence. Senator Maynard likewise corrected false assertions […]
[…] development will occur throughout the transit corridor, with expectations bolstered by a recent surge of interest in downtown New Britain, where businesses are investing in properties within walking distance of […]
[…] development will occur throughout the transit corridor, with expectations bolstered by a recent surge of interest in downtown New Britain, where businesses are investing in properties within walking distance of […]
[…] and flourishing being negatively impacted by this project.” In reality, the CTfastrak is already spurring significant investment in areas near the project. June 22nd, 2012 | Category: Winners […]
[…] State Senator Joe Markley—Despite the economic benefits being generated by CTfastrak, Senator Markley continues to oppose the project. It’s getting […]
[…] way to speed bus commutes quickly. It has also been used successfully as a catalyst, as in Hartford, CT to generate economic […]
[…] of the corridor. The project is expected to create thousands of construction jobs and stimulate economic development in areas surrounding the 11 CTfastrak […]
[…] times, traffic signal priority, pay-before-you-board technology, and the ability to jumpstart economic development along its routes. Whatever recommendations NJ Transit arrives at, this is a good first step toward […]
[…] 2012, a TSTC analysis found that investment along the CTfastrak corridor was well underway even before a shovel had entered the ground, and […]
[…] there have certainly been successes; the new CTFastrak busway, connecting Hartford and New Britain, has spurred redevelopment along its route, and the governor’s office has made funds available to further TOD efforts in that corridor and […]
[…] have certainly been successes; the new CTFastrak busway, connecting Hartford and New Britain, has spurred redevelopment along its route, and the governor’s office has made funds available to further TOD efforts in that corridor […]