Nobody could have predicted that an Oakland-SSF ferry service would have just a 7% farebox recovery:
It’s still early, but the new ferry service between South San Francisco and the East Bay will have to make a lot of improvements to maintain its generous funding subsidies.
Under the terms of its agreement with the MTC, San Francisco Bay Ferry — the regional agency in charge of the service — is supposed to maintain a 30 percent farebox recovery rate. After a month of operation, it was at 7.3 percent, a mark that has raised concern at the MTC. “The substandard farebox recovery rate is certainly a cause for concern,” said MTC spokesman John Goodwin.
The new SSF ferry building also cost $26 million.
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They say that it takes 2 to 4 years until a new service really gets anchored among people. So, I guess it is definitely too early to complain…
A month? If youre making ridership decisions after a month, you know nothing about transportation.
Sort of like how a highway built today is built for 2030 projections. Lets pretend the ferry is simply ramping up to hit the 2030 numbers.