The Sonoma-Marin Area Rail Transit (SMART) Board of Directors is authorizing the use of the $8 million in proceeds from the sale of a downtown SMART property to fund the design and construction of a second station in Petaluma at Corona Road and N. McDowell Boulevard.
SMART says it has continually sought funding opportunities for the unconstructed stations and railway segments. One such opportunity presented with the sale of a 4.48-acre lot to real estate developer Lomas Partners. The real estate transaction will provide SMART with $8 million to be applied towards the construction of a new station at Corona Road, and a separate 1.27-acre parcel at the corner of N. McDowell Boulevard and Corona Road planned for a station parking lot.
“I am grateful that in these financial times, the board agreed to set aside these funds for a second station in Petaluma station. The future station’s proximity to SRJC’s Petaluma campus and residential neighborhoods provides opportunities to more people to green up their transportation by riding transit,” said SMART Board Member and County Supervisor representing Petaluma David Rabbitt.
Funding for the design and construction of the Petaluma Corona Station is proposed to come from the proceeds of the sale of the SMART downtown property upon successful closure of the escrow, currently scheduled to close on Nov. 19, 2020.
“Since the inception of SMART, it was planned for Petaluma to have two stations, one in downtown Petaluma and a second station in the north. I am very proud of the cooperation and tireless negotiation efforts between the city of Petaluma, Lomas Partners and SMART,” said SMART Board Chair Eric Lucan.
