Downtown Carrollton Rail Station Master Plan Phase Two
The April 2009 Downtown Carrollton Rail Station Master Plan Phase Two report has been added to the Best Practices research articles.
The document includes conceptual project development of the transportation components (passenger corridor alignment, track work and passenger transportation hub referred to as the “station complex”), a framework for civic/open spaces and transit-related, mixed-use development within a general ¼-mile radius of the station.
The Master Plan also addresses the cost of public infrastructure and private development components of the project. Total public infrastructure costs for the ultimate development plan is $63 million. The proposed private development costs are $518 million within three development phases for a total project cost of $581 million in 2008 dollars. The private development budget is based on a building program and phasing plan established by a market study provided by the City. Based on the development plan, a Total Development Budget and Developer Pro Forma will be created for all phases of the development. The Pro Forma illustrates the necessary gap financing and funding mechanisms to achieve financial feasibility for the entire project. Available local, state and federal funding programs suitable for transit-oriented development are identified to supplement the available Tax Increment Financing (TIF) alternatives already established.