DETROIT — Streetcar expert Michael Powell will discuss the economic benefits associated with Detroit's light rail project.
Powell and M-1 Rail President and Chief Executive Matt Cullen are scheduled speak Wednesday at the 28th Annual University of Michigan & Urban Land Institute Real Estate Forum at Cobo Center.
Powell is board chair emeritus of Portland Streetcar, Inc., in Oregon. M-1 Rail officials say in a release that the area and neighborhoods around the Portland streetcar system has seen $4.5 billion in private investment since 2001.
The M-1 RAIL streetcar is projected to create more than $3 billion in economic development over 10 years along the Woodward corridor between Detroit's downtown and New Center area.
Construction began this summer on the 6.6-mile round-trip rail line and is expected to be completed in 2016.