HSBC Bank Spinoff Hopes To Lead Financing Of Miami Beach Streetcar

InfraRed Capital Partners, recently spun off of HSBC Bank, is leading a team that proposes to finance, build and operate a streetcar project in South Beach as a developer and majority equity investor.

InfraRed would invest 80% of the required equity, with another 15% coming from The Walsh Group (owner of Archer Western Contractors). The remaining 5% would come from Alstom.

The wireless cars would run on an exclusive right of way on Washington Avenue between 5th street and the convention center, with eight to ten stations.

If approved by Miami Beach, the project could move forward at a relatively fast pace, since it won’t require a lengthy application for federal funding. A Notice to Proceed could be issued in about a year from now, with construction and testing to be concluded three years later.

Below is the full unsolicited proposal from Greater Miami Tramlink Partners:

 

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marc
5 years ago

Can’t happen soon enough.

MrDreTheOne
5 years ago

An unsolicited fully financed project proposal from a consortium with a proven track record building such projects. Levine, what the hell are we waiting for?

Yet Another Anonymous
5 years ago

A worse proposal that offers more to the politically connected

Yet Another Anonymous
5 years ago

I was making a joke when I said that. I don’t think this is the greatest proposal.

Anonymous
5 years ago

He’s waiting for more/all offers to come in to encourage competition and work with the best deal possible. He wants the job done right, and good for him. We can wait a few weeks for the best system!

Anonymous
5 years ago

Please don’t mess this up like the convention center Miami Beach!

Marc305
5 years ago

Why not build something elevated that resembles the Metromover? I lived in South Beach for years and went though at least 4 floods. How will this plan work with our weather? Furthermore, if it is elevated it will not interfere with traffic, which is already extremely heavy in South Bach.

Yet Another Anonymous
5 years ago

As I said before, there is no way Miami Beach would approve something that intrusive. I know the flooding issue has been brought up before in regards to an electrified track and to that I don’t have an answer except maybe the specialized power supply has something to do with it.

Anonymous
5 years ago

Washington Ave in Miami Beach get’s flooded?

I didn’t know that.

Anonymous
5 years ago

Levine is being very active with pumps/drainage. Fighting against climate change/flooding is going to continue to be a challenge, but with a Portland-esque streetcar powered by overhead wires I think it will be fine?

Anonymous
5 years ago

My apologies, I just double checked the report. The system is in fact wireless (no overhead wires).

The report states that the electric rail has the ability to continue normal operations during harsh climatic conditions; in addition there is no electrical power limitation, and no risk of running out of power in degraded operation mode. Magic. 😀

suomynona
5 years ago

Why would this not be a loop? North on Washington and south on Alton?

Anonymous
5 years ago

A system that does not cross the causeway is useless. Furthemore, a system at grade would collapse South Beach traffic and would be useless during flooding events, which will become more and more common. The system needs to be elevated and run from the mainland to the beach. Last but not least, Alstom is infamous for having been involved in several bribery scandals. Crazy politics in South Florida is the perfect place for one more in their list. This proposal is not the way to go.

Yet Another Anonymous
5 years ago

Actually with the pumps flooding is so far non existent.

suomynona
5 years ago

It has been explained why they are suggesting to build the Beach segment first.

There are two lanes of parallel parking on most of Washington. They can build an at-grade, designated lane for the streetcar without affecting traffic whatsoever. And the whole purpose of the streetcar is to reduce traffic…

metromoverlover
5 years ago

So if they build it on Miami Beach first, where would the maintenance facility be at ?

Anonymous
5 years ago

Wonder if anyone else noticed that the rendering of the streetcar say’s “Miami Beach” at the top? You only do that when the destination is headed to that location, not already rolling up and down just in that location.