Quicken Loans to name Detroit streetcar; Cincinnati advances streetcar construction

Detroit-based Quicken Loans Inc. will choose the final name for the M-1 Rail streetcar project in Detroit, according to The Detroit News.

The company received naming rights for the 3.3-mile streetcar as a result of its financial support during the project's fundraising period, the newspaper reported.

Recognition of other project donors is still in the works.

The $140 million project is expected to be completed in late 2016, according to M-1 Rail. Operational costs are estimated at $5.5 million a year, and the streetcar has raised enough funds to keep the line open for up to 10 years. Revenue from fares and advertising will supplement the cost of operations.

Meanwhile, crews in Cincinnati poured the last piece of concrete for the city's streetcar segment along Walnut Street, city officials announced last week. This marked the close of construction work along that street.

Track work will now continue along Main Street, where construction has progressed to 8th Street from 12th Street. The 3.6-mile, $147.8 million Cincinnati Streetcar project is expected to open in September 2016.