GROWTH
OF PORTS, TRAFFIC MITIGATION, DRIVE "ALAMEDA CORRIDOR' PROJECT,
OFFICIAL SAYS
An "incredible growth" of cargo entering
the Ports of Los Angeles and Long Beach -- expected to double by
the year 2020 -- is the driving force behind the $2 billion Alameda
Corridor project. The planned railroad freight corridor, runs 20
miles north from the ports to the transcontinental railheads near
downtown Los Angeles.
This was among the central comments made by Gill
V. Hicks, general manager of the Alameda Corridor Transportation
Authority, during the September dinner meeting of the AIR in downtown
Los Angeles.
In addition to maintaining our ports in a preeminent
position with such competitors as Seattle-Tacoma, Hicks said the
Alameda Corridor will have a major positive impact on traffic along
that route.
Hicks explained that over 200 unseparated grade
crossings along the corridor, which currently result in significant
traffic tie-ups, will be eliminated by what he said will be the
first consolidated railroad link of its kind.
"With the dramatic increase in cargo coming
through the ports, the increased rail traffic would become a substantial
problem if we don't build the Alameda Corridor," Hicks told
a capacity AIR gathering of industrial real estate brokers, property
owners and developers.
Citing specific benefits, Hicks said the Corridor
will result in a 90 percent reduction in rail crossing delays, and
a 23 percent decrease in truck traffic on the Long Beach Freeway
because of increased rail capacity.
Hicks noted that the ACTA is close to awarding
a contract for the 10-mile "mid-corridor" segment of the
project, which will feature a below grade 33-foot trench through
the cities of Lynwood, South Gate, Huntington Park and Vernon. South
and north of the mid-corridor, trains will travel at street level,
ultimately crossing the Los Angeles River just north of Washington
Boulevard where they will divert to their respective railroad mainlines.
ACTA is currently negotiating with the low bidder
for the mid-corridor, with the matter going before the Board in
October.
Responding to audience questions concerning the
impact of the project on property owners, Hicks said a concerted
effort is being made to minimize impact along the route, adding
that without the Alameda Corridor project, it could be "disaster"
for local businesses once trains are at full capacity.
Hicks added that while he could not be specific
about the impact on property values, he expected that they would
be positively influenced because of landscaping and commercial improvements
that are part of the corridor plan
.Affiliate Profile
'DIRECTED FOCUS', QUALITY
PROJECTS SET TOOLEY & COMPANY APART
A "directed focus, undertaking a limited number
of high quality projects receiving the benefit of intensive and
continuing involvement of the firm's principals", is central
to a company philosophy that has distinguished Tooley & Company,
a Trammell Crow Company, for over two decades.
Tooley & Company, an AIR member for over five
years, is a full-service real estate firm specializing in development,
leasing, management, consulting, acquisitions and dispositions for
office, industrial and retail properties throughout the United States.
Based in West Los Angeles, Tooley & Company's
current inventory of projects totals in excess of 20 millions sq.
ft., according to Kent Jakobsen, senior vice president.
Moreover, the firm is responsible for developing,
leasing and managing some of California's most prestigious projects,
including Century Plaza Towers in Century City, Westwood Gateway
in West Los Angeles, Jamboree Center in Irvine, The Water Garden
and Wilshire Palisades in Santa Monica, the 201 California Building
in San Francisco, Airport Marina Center in Marina Del Rey and La
Jolla Gateway in La Jolla.
In order to broaden services the company could
deliver to its clients, Tooley & Company merged in 1998 with
the Trammell Crow Company, providing the leadership of the company
the financial resources and national support to continue its steady
course of expansion, Jakobsen said.
Implementing its stated strategy to real estate
services, Tooley & Company has become recognized in the industry
as an innovative problem solver, based on a goal of creating value
for both the company and its clients.
The firm achieves this in part by integrating real
estate expertise across diverse disciplines, from strategic planning
and development to marketing and management.
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