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Will be responsible for all aspects of operations and maintenance, including hiring staff, training and managing streetcar operators, service operations, dispatch, vehicle and track maintenance, and fare enforcement.
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The Penske Tech Center will be the nation’s first vehicle storage and maintenance facility to operate completely off-wire.
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Selling the naming rights for an entire mass transit system puts Detroit future streetcar on the forefront of a trend in public transportation, say several industry analysts.
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Updated federal safety regulations is the main culprit for the delay, in addition to weather and the timetable for delivery of M-1's streetcars.
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In the works since 2008, the M-1 Rail was first envisioned as a nine-mile streetcar system stretching from near the Detroit River to 8 Mile Road. But in 2011 that plan was scrapped in favor of the 3.3-mile line, for fiscal reasons.
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Detroit-based Quicken is owned by Dan Gilbert, who has been the $137 million streetcar project's co-chairman (with Roger Penske) nearly since its 2008 inception.
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The cost to design and build the facility, which includes community input, is estimated to be $6.9 million.
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The deal, with agreements totaling $40 million, marks the first time that New Markets Tax Credit Financing have been used to fund a public transportation initiative.
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Secretary of Transportation Anthony Foxx joined local, state and federal government officials, private donors and the Detroit community at a “Track Signing Ceremony” in Detroit to announce the TIGER grant for the M-1 RAIL project.
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The funding, which had been anticipated by M-1 officials, helps to plug what could have been a hole in funding for the streetcar line’s estimated $140-million construction cost and its operating revenues later.
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