The Wave (streetcar)
The Wave is a 2.7-mile (4.3 km) streetcar rail line planned in Fort Lauderdale, Florida.[1] Construction costs are estimated to be $142.6 million. The first phase includes a 1.4 mile downtown loop scheduled to open in 2016[1] Broward County will own and operate the line. Ridership is anticipated from the downtown bus terminal, hospitals, courthouses, tourists, residents and office workers. The line will connect with the Sun Trolley buses reaching additional neighborhoods, beaches, Las Olas Boulevard, Tri-Rail, and the Fort Lauderdale Airport.[1]
The electric streetcar system was estimated to cost $125 million, and is being planned for the downtown. Construction funding will come from federal ($62.5 million), state ($37 million) and city taxpayers ($10.5 million), with approximately $15 million from assessments on properties located within the Downtown Development Authority. Broward County Transit (BCT) has committed to operating the system for the first 10 years at an expected annual cost of $2 million, and has guaranteed funding to cover any shortfall in ridership revenues.[2] The construction cost of $50 million per mile is considerably higher than other recently built streetcar projects, in part due to the challenges of building an electric transit system over the 3rd Avenue drawbridge.
In July 2013, the Fort Lauderdale city commissioners approved a tax on downtown property owners, providing the final part of funding needed for the projects construction to begin.[1]
