{"id":1004017355,"date":"2010-02-01T11:04:17","date_gmt":"2010-02-01T19:04:17","guid":{"rendered":"https:\/\/64.70.41.235\/?p=1004017355"},"modified":"2022-12-07T20:30:46","modified_gmt":"2022-12-08T04:30:46","slug":"sfs-transbay-terminal-to-benefit-from-influx-of-funds","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/sfs-transbay-terminal-to-benefit-from-influx-of-funds\/","title":{"rendered":"SF\u2019s Transbay Terminal to Benefit from Influx of Funds"},"content":{"rendered":"<p>February 1, 2010<br \/>\nBy Allison Landa<\/p>\n<p><a class=\"highslide\" href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/02\/Transbay_Center_Park_view_modified.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"287\" height=\"300\" data-attachment-id=\"1004017357\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/sfs-transbay-terminal-to-benefit-from-influx-of-funds\/transbay_center_park_view_modified\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/02\/Transbay_Center_Park_view_modified.jpg\" data-orig-size=\"287,300\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Transbay_Center_Park_view_modified\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/02\/Transbay_Center_Park_view_modified.jpg?w=287\" class=\"alignright size-thumbnail wp-image-1004017357\" title=\"Transbay_Center_Park_view_modified\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/02\/Transbay_Center_Park_view_modified.jpg\" alt=\"\" \/><\/a><\/p>\n<p>Federal stimulus funds totaling $400 million plus a cash infusion to the tune of $171 million will provide funding for a significant part of the renovation of San Francisco\u2019s Transbay bus terminal.<\/p>\n<p>Last week U.S. Transportation Secretary Ray LaHood said that $400 million in stimulus funds have been earmarked for the project \u2013 specifically to build below grade train levels of the transit center. It was also announced last week that the Transbay Joint Powers Authority had closed on the $171 million loan from the Transportation Infrastructure Finance and Innovation Act. Officials said that stimulus funds were the last piece of the financing puzzle for the project, and that demolition of the current Transbay Terminal should take place this spring.<\/p>\n<p>The stimulus funds are part of a $2.25 billion grant to build a high-speed rail system between Northern and Southern California. Meanwhile, the money will fund 14 percent of the project\u2019s first phase, an above-ground section of the train station. Phase I\u2019s capital costs are expected to total $1.2 billion.<\/p>\n<p>\u201cThis is a very important milestone that brings our collective vision of the Transbay Transit Center one step closer to reality,\u201d San Francisco Mayor Gavin Newsom said in a statement. \u201cWith this funding today and positive news later this winter on our stimulus money request, we can begin actual construction on this critical project and begin creating thousands of jobs.\u201d<\/p>\n<p>The $4 billion project is slated to replace the city\u2019s worse-for-wear Transbay terminal with a modern multi-modal transit center meant to centralize transportation in the region. Construction began on the temporary terminal in December 2008.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Two different streams of funds will provide for reconstruction of San Francisco&#8217;s Transbay Terminal: $400M in stimulus cash and a $171M loan from the Transportation Infrastructure Finance and Innovation Act.<\/p>\n","protected":false},"author":936,"featured_media":1004017357,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21825,15],"tags":[],"class_list":["post-1004017355","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-finance","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SF\u2019s Transbay Terminal to Benefit from Influx of Funds - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/sfs-transbay-terminal-to-benefit-from-influx-of-funds\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SF\u2019s Transbay Terminal to Benefit from Influx of Funds\" \/>\n<meta property=\"og:description\" content=\"Two different streams of funds will provide for reconstruction of San Francisco&#039;s Transbay Terminal: $400M in stimulus cash and a $171M loan from the Transportation Infrastructure Finance and Innovation Act.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/sfs-transbay-terminal-to-benefit-from-influx-of-funds\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2010-02-01T19:04:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T04:30:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/02\/Transbay_Center_Park_view_modified.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"287\" \/>\n\t<meta property=\"og:image:height\" content=\"300\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Allison Landa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/sfs-transbay-terminal-to-benefit-from-influx-of-funds\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/sfs-transbay-terminal-to-benefit-from-influx-of-funds\/\",\"name\":\"SF\u2019s Transbay Terminal to Benefit from Influx of Funds - 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