Economic Analysis
Fostering Sustainability
- By increasing access to transit and work centers through non-automotive means, the project helps to reduce dependence on oil.
- The project encourages pedestrian and bicycle use, which will lower greenhouse gas emissions, diminish air pollution and lessen roadway particulates entering the groundwater and river.
- The new section of SE Water Avenue will be a Green Street, using vegetated facilities to manage stormwater runoff to preserve watersheds and improve air quality.
- This project will spur increasing transit ridership on the future Portland-Milwaukie light rail line by reducing barriers to station access and creating functioning multi-modal corridors.
- The improvements will meet ratings thresholds established by the Sustainable Transportation Ratings System, a locally developed ratings method based on LEED that will allow the comparison of transportation investments based on environmental benefits.
- The project contributes towards 16,500 metric tons of total carbon savings by rendering Central City parcels developable and thus focusing jobs and housing in a location with high mode splits and a rich and growing fabric of transportation options.
TriMet has a nationally recognized program for project involvement of minority and women-owned businesses.
Supporting Employment
- The project Benefits Cost Analysis documents that the present discounted value to travelers is $15 million:
Project Benefits Cost Analysis
- SE Water Avenue Relocation, Clinton to the River Multi-use Path, Oregon Pacific Railroad relocation, and the Rhine and Kellogg bridges provide safe access and better connections to the Central Eastside district, the Willamette River transit/pedestrian/bike bridge, employment centers and downtown Milwaukie, which will increase alternative transportation options to connect people to jobs.
- The relocation of SE Water Avenue will allow for the redevelopment of several larger parcels that are currently bisected by the old alignment and support OMSI’s master plan, which calls for 1 million square feet of expansion including 720,000 square feet of office research development space and 75,000 square feet of retail space. The Portland Opera plans to redevelop their property to include an 1,800-person Opera Theater, enhancing the cultural diversity of the district.
- Safe and attractive transportation options lower transportation costs, which strengthens the local and national economy by freeing more money for discretionary spending.
- The Rhine Pedestrian Bridge will connect residents with nearby employment centers that offer nearly 2,000 jobs in the neighborhood.