$10 million public transit grant to benefit Mission Bay
There could soon be enhancements to the public transportation available in San Francisco's Mission Bay neighborhood, as local officials have accepted a $10 million grant from the federal government to make improvements to the current system. When you purchase one of the homes for sale in the Bay Area, you might notice rapid renovations in these communities and many others throughout the region.
The U.S. Department of Transportation provided the funding as part of the Transportation Investment Generating Economic Recovery (TIGER). With the new resources, the Mission Bay/UCSF Hospital Multimodal Transportation Project will receive the funding it needs to assist local residents.
"San Francisco's dynamic Mission Bay neighborhood has become an international model for sustainable, transit-oriented development and a hub of innovation and job growth," Lee said, according to a press release. "The TIGER grant award for Mission Bay speaks to the power of public-private partnerships."
Consider the Mission Bay neighborhood and the potential enhancements this grant will provide when evaluating the homes for sale in the city.
Why should you consider moving to Mission Bay?
Mission Bay provides a variety of opportunities to new residents and businesses. The community features a collection of mixed-use and transit-oriented developments, and includes 303 acres of land between San Francisco Bay and Interstate-280.
New developments could impact the community's economy, and might help raise property values across the region. The city plans to develop 4.4 million square feet of commercial space dedicated to biotechnology, life science and office work, and 500,000 square feet of city and neighborhood-serving retail space. Meanwhile, a 500-room hotel and a 500-student public school and other community buildings may draw visitors of all ages to the area.
These enhancements increase the demand for a high-quality transportation system in this area. With $10 million, the city could create new employment opportunities for current and future residents, who will likely need to be able to navigate the city quickly and easily.
"This $10 million commitment for transportation at Mission Bay builds on that record: to create jobs in our city and serve as a model for sustainable development nationwide," said Nancy Pelosi, Minority Leader of the U.S. House of Representatives. "I was proud to advocate on behalf of this worthy project."
The grant could have a significant impact on this community in the future.