November 4, 2016 Comments Off on Foothill Gold Line Could Generate $16B in Economic Impact Views: 235 California, California News, Inland Empire, West

Foothill Gold Line Could Generate $16B in Economic Impact

The Foothill Gold Line has been a catalyst for nearly $7 billion of private investment so far, and there’s another $9 billion in potential future private TOD investment ahead. Reports from The Maxima Group and Beacon Economics highlighted the economic impact including assessing the residential, hotel and commercial projects built along the corridor since 2003.

Key findings included:

  • Existing and underway TOD projects near the 18 Gold Line stations resulted in $6.7 billion in private investment
  • More than 12,500 new housing units, 3.6 million square feet of commercial space, and 1,400 hotel rooms built within a half-mile radius of a Gold Line station
  • Investments resulted in the creation of nearly 50,000 direct and indirect jobs during construction, 20,000 on-going jobs for LA County workers, and $50 million in annual county tax revenues
  • Full buildout of all potential TOD corridor projects could add 17,000 more housing units, 10 million square feet of additional commercial space, 250 more hotel rooms generating $100 million more in annual county tax revenues
  • Projects built or underway within a half mile of the six Pasadena Gold Line stations alone amount to $3.3 billion in economic output

Read More at Foothill Gold Line News

Read More at Foothill Gold Line Reports

For comments, questions or concerns, please contact Dennis Kaiser

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