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HomeMy WebLinkAboutMetro Red Line Study Appendix B Nov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zVIGSKRM^MRKXLEXZEVMSYWPEFIPWQE]FIETTPMGEFPIERHQE]FIYWIH[LIVI ETTVSTVMEXIw1<(82(x[MPPHIWGVMFIHIZIPSTQIRXWMRQM\IHYWITIHIWXVMERSVMIRXIHWIXXMRKW B-1 November 2013 METRO RED LINE Market & Development Study OECAST SUS IMARKET FRMMARIE . %46-36%2%0=7)7 -RVIGIRX]IEVWQEVOIXEREP]WIWERHJSVIGEWXWLEZIFIIRTVITEVIHXSEHHVIWWQEVOIXTSXIRXMEPMRXLIWXEXMSREVIEWERH GSQQYRMXMIWMRXLI6IH0MRIGSVVMHSV8LIWIEVIWYQQEVM^IHMR8EFPI 8%&0) 2SXEFPITSMRXWJVSQXLIXEFPIMRGPYHIXLIJSPPS[MRK &():)0341)2894(%8) 7MRGIWSQISJXLITVMSVEREP]WIW[IVITVITEVIHHIZIPSTQIRXTVSNIGXWLEZIQSZIHJSV[EVHMRXLIGSVVMHSVGSQQYRMXMIW %QSRKXLIWIXLIPEVKIWXLEZIFIIR B-2 November 2013 METRO RED LINE Market & Development Study 3XLIVVIGIRXHIZIPSTQIRXWLEZIFIIRTVMQEVMP]MRGVIQIRXEP[LMGLMWWYQQEVM^IHMR8EFPI 8%&0) %TTP]MRKXLIWIYTHEXIW8EFPIWLS[WXLIJSVIGEWXWEHNYWXIHXSEGGSYRXJSVXLIHIZIPSTQIRXWTIVQMXXIHMR 8%&0)  ERHQE]MRGPYHITSXIRXMEPGEXEP]WXWXLEXQE]VERKIJVSQPEVKIWGEPIIRXIVXEMRQIRXZIRYIWXSQENSVQIHMGEPJEGMPMXMIW B-3 November 2013 METRO RED LINE Market & Development Study 3ZIVEPPXLIWIJSVIGEWXWMRHMGEXIXLEXXLI6IH0MRIWXEXMSRWEVIWMXYEXIHMRGSQQYRMXMIW[MXLTSWMXMZIKVS[XLSYXPSSOW ;LMPIQYGLSJXLMWTSXIRXMEPHIZIPSTQIRX[MPPTVSGIIHMRGSRZIRXMSREPWYFYVFERJSVQEXWIZIRWQEPPTIVGIRXEKIWSJ XLIWITVSNIGXIHQEVOIXwIRZIPSTIWxGERGSQTVMWIWYGGIWWJYPXVERWMXSVMIRXIHHIZIPSTQIRXHMWXVMGXWEX6IH0MRIWXEXMSR EVIEW II. ISSUES INFLUENCING BRT TOD %&680-8)6%896)%2(%440-'%&0)0)77327 XLIPMXIVEXYVIXLEXHSIWI\MWXMWMRGSRGPYWMZI-REHHMXMSRXLIVITSVXWXLEXLEZIFIIRKIRIVEXIHJSGYWTVMQEVMP]SR&68 WIVZMGIMRGSQTEVEXMZIP]LMKLHIRWMX]YVFERWIXXMRKWXLEXGSRXEMRTVII\MWXMRKQENSVIQTPS]QIRXGIRXIVWMRWXMXYXMSRW WYGLEWYRMZIVWMXMIWLSWTMXEPWQYWIYQWERHSXLIVWYGLHIWXMREXMSRW-RGMXMIWWYGLEW/ERWEW'MX]ERH'PIZIPERHJSV LEZIFIIREGORS[PIHKIHMRQER]GEWIW3ZIVEPPLS[IZIVXLIWII\TIVMIRGIWEVISJWSQI[LEXPMQMXIHVIPIZERGIXSXLI 6IH0MRIvWWYFYVFERGSQQYRMXMIW wGEWIWXYHMIWx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ovember 2013 METRO RED LINE Market & Development Study :EVMSYWJSVQWSJQM\IHYWIHIZIPSTQIRXz w1<(82(x zRIIHRSXVIP]SRXLITVIWIRGISJ&68SVSXLIV JSVQWSJTYFPMGXVERWMX 6EXLIVXLERTVS\MQMX]XSWXEXMSREVIEWXLIQSWXMQTSVXERXJEGXSVMRTVSQSXMRKWYGGIWWJYPQM\IHYWI HIZIPSTQIRXMWXLIWXVIRKXLSJXLIQEVOIX W EXXLIHIZIPSTQIRXPSGEXMSR 7MXI%ZEMPEFMPMX] Ÿ8EVKIXIH7XEXMSRW-RTVMSVMXM^MRKWXEXMSREVIE83(WMXIWTPERRIVWWLSYPHJSGYWSREVIEW[LIVIHIZIPSTEFPIWMXIW QE]FIGSQIEZEMPEFPI;LIVIWMXIWEVIWYGGIWWJYPMRXLIMVTVIZEMPMRKzwLMKLIWXERHFIWXxYWIWXLI]EVIPMOIP]XS GSRXMRYIMRWYGLYWIW;LIVIWMXIWYRHIVTIVJSVQSVETTVSEGLSFWSPIWGIRGILS[IZIVXLI]QE]FIGSQIEZEMPEFPI JSVIRZMWMSRIHHIZIPSTQIRXW Ÿ'SQTIXMXMSR[LIVIHIZIPSTQIRX SVVIHIZIPSTQIRX WMXIWEVIVIEHMP]EZEMPEFPIMRSXLIVPSGEXMSRWTSXIRXMEPXVERWMX SVMIRXIHHIZIPSTQIRXWQYWXGSQTIXIRSXSRP]JSVTVSNIGXXIRERXWFYXJSVHIZIPSTIVWEW[IPP4YFPMGTPERRIVWGERRSX wJSVGIxXLIQEVOIXXSXLIMVXEVKIXIHWXEXMSREVIEW EWMR3XXE[E FYXXLI]QE]RIIHXSMRXVSHYGIQIEWYVIWXSIMXLIV IRLERGISTTSVXYRMXMIWEXXLIXEVKIXIHWXEXMSRWSVPMQMXXLSWIEXXLIGSQTIXMRKPSGEXMSRW Ÿ WMRKPIPEVKIWGEPIHIZIPSTQIRX IK'IHEV+VSZISYXPIXW SVYRHIVXLIGSRXVSPSJEWMRKPIwQEWXIVHIZIPSTIVxEWMR XLIGEWISJHIZIPSTQIRXWEX)\GIPWMSV +VERH 7X0SYMW4EVO ERH'MX];EPO ;SSHFYV] -RWYGLWMXYEXMSRWQEWXIV HIZIPSTIVWEWWYQIXLIVMWOWSJGEVV]MRKQYPXMTPIWMXIWSZIVTSXIRXMEPP]PSRKTIVMSHWSJXMQI 8LIWIWMXYEXMSRWEVIVEVI-RQSWXGEWIWHIZIPSTIVW[MPPTVIJIVXSHIZIPSTMRQEREKIEFPIMRGVIQIRXWMRVIWTSRWIXS QEVOIXSTTSVXYRMXMIW%FWIRXERI\GITXMSREPVSWXIVSJEQIRMXMIWQSWXWMXIW[MPPEXXVEGXHIZIPSTIVWWIIOMRKHMWGVIXI TVSNIGXWVEXLIVXLERFIMRKGSRXVSPSZIVPEVKIWGEPIQEWXIVTPERW1SWXTVSWTIGXMZI83(HMWXVMGXW[MPPHIZIPSTMR WITEVEXIGSQTSRIRXWIEGLSJ[LMGLGERGSRXVMFYXIXSERSZIVEPPQM\SJYWIW ;LIVIWYMXEFPIHIZIPSTQIRXWMXIWEVIEZEMPEFPIMRWXVSRKQEVOIXWXLIMQTSVXERGISJXVERWMXWIVZMGIZEVMIW[MHIP]7SQI HIZIPSTIVWSJVIWMHIRXMEPTVSNIGXWRIEV,ME[EXLE068WXEXMSRWGMXITVS\MQMX]XSXVERWMXEWXLIQSWXMQTSVXERXJEGXSVW EXXVEGXMRKHIZIPSTQIRXTVSTSWEPWEPSRKXLITVSWTIGXMZI7SYXL[IWX068GSVVMHSV *SVSXLIVJSVQWSJXVERWMXLS[IZIVXLIMQTSVXERGISJXVERWMXMWWYFWXERXMEPP]HMQMRMWLIH*SV&68WXEXMSRWRSTVIGIHIRXW I\MWXMRXLIVIKMSR%XXLI7SYXL[IWX7XEXMSRGSRHSQMRMYQW )HIR4VEMVMI XLIEHNEGIRXFYWXVERWMX RSX&68 LYF WXEXMSRSJXIRTPE]WEHIGMWMZIVSPIMREXXVEGXMRKGSYTPIW[MXLSRP]SRIGEV B-5 November 2013 METRO RED LINE Market & Development Study 3ZIVEPPLS[IZIVEWEPSGEXMSREQIRMX]&68[MPPQSWXPMOIP]VEROPS[IVMRMQTSVXERGIXLER068ERHGSQQYXIVVEMP WIVZMGI%QSRKSXLIVPSGEXMSREQIRMXMIW I\GPYHMRKLMKL[E]EGGIWW[LMGL[MPPFIHMWGYWWIHWITEVEXIP] EXXLMWXMQI HIZIPSTIVWERHXIRERXW[MPPMRQSWXGEWIWVERO&68PS[IVMRMQTSVXERGIXLERXLIJSPPS[MRK -REHHMXMSRXSXLIJSVIKSMRKSYVMRZIWXMKEXMSRWVEMWIX[SSXLIVMWWYIW STIRIHSRYRHIZIPSTIHPERHHMVIGXP]EHNEGIRXXSXLIWXEXMSR B-6 November 2013 METRO RED LINE Market & Development Study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zERH[MXLEPMQMXIHRYQFIVSJSXLIVWMXIWEZEMPEFPIJSVRI[HIZIPSTQIRXWMRGIXLI GSRWXVYGXMSRSJ)\GIPWMSV +VERHMRXLI'MX]vWQYPXMJEQMP]HIZIPSTQIRXWMR ETTVS\MQEXI 1<(82(JSVQEXW EQSYRXXSYRMXWMRGPYHMRKYRMXWEX)\GIPWMSV +VERH  :MPPEKIMRXLI4EVO  8S[IV0MKLX  )PPMTWISR EQSYRXWXSTIVGIRXSJEPPEXXEGLIHYRMXWTIVQMXXIHHYVMRKXLMWTIVMSH PSGEXMSR[LIVI[MHIVERKMRKEQIRMXMIWEVIGSRGIRXVEXIH;LMPI'MX];EPOvWVIWMHIRXMEPGSQTSRIRXWLEZITVSZIR WYGGIWWJYP'MX];EPOvWYRMXWGSQTVMWINYWXTIVGIRXSJ;SSHFYV]vWTIVQMXXIHEXXEGLIHYRMXWWMRGI QEWXIVTPERRIHGSQQYRMXMIW 8%&0) B-7 November 2013 METRO RED LINE Market & Development Study 3ZIVEPPXLIGLEVEGXIVSJGSQTIXMXMZIWMXIWzRSXXLIQEVOIX[MPPTSWIXLITVMQEV]PMQMXEXMSRSRXLITSXIRXMEPJSV1<( 82(HIZIPSTQIRXMRXLI6IH0MRI'SVVMHSV ;MXLMRXLI6IH0MRIGSVVMHSV&PSSQMRKXSRvW7SYXL0SSTHMWXVMGXQSWXGPSWIP]VIWIQFPIWXLIGSRHMXMSRWMR7X0SYMW4EVO TYFPMGMRJVEWXVYGXYVIERHTSXIRXMEPGEXEP]WXTVSNIGXWEXXLI1EPPSJ%QIVMGE 8LI(EOSXE'SYRX]6IH0MRIGSQQYRMXMIWVIWIQFPI;SSHFYV]QSVIXLERXLI]VIWIQFPI7X0SYMW4EVO)EGLSJXLIWI GSQQYRMXMIWz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ovember 2013 METRO RED LINE Market & Development Study