Background 

The Transbay Transit Center project consists of three interconnected elements: (1) replacing the existing Transbay Terminal building with a new Transbay Transit Center; (2) extending Caltrain 1.3 miles from Fourth and King Streets to downtown into the new Transbay Transit Center at 1st and Mission, with accommodations for future High Speed Rail; and (3) creating a new transit-friendly neighborhood with 3,400 new homes (35% of which will be affordable), and mixed use commercial development.

During calendar year 2006, the Authority participated in the Interagency Working Group which came up with significant recommendations intended to reduce the overall cost of the project and increase available revenues, to ensure that both transportation components (the bus terminal and the rail terminal and tunnel connection) could be built at the same time. The Group made recommendations with a potential to bring in up to $260 million in additional revenues from development. It also recommended additional analysis of alternatives for the tunnel connection between 4th and King and the Transit Center. Those analyses, including a revised cost estimate, are expected to be completed in April 2007.