Let's inaugurate my new unit of measurement, the Sellwood (1 Sellwood = $200 million), by using it to measure our region's three most significant proposed transportation projects: the Columbia River Crossing, the Milwaukie Light Rail, and the Sellwood Bridge replacement itself.
At current estimates, the CRC will cost about 15 Sellwoods, the Milwaukie Light Rail about 7 Sellwoods, and the Sellwood Bridge 1 Sellwood. The CRC will carry about 300,000 people a day (I'm assuming about 15% growth in demand from the present level by the time it opens), Milwaukie Light Rail about 26,000 people a day, and the Sellwood Bridge about 30,000 vehicles (so perhaps 40,000 people) a day.
That means that 1 Sellwood spent on the Sellwood Bridge serves 40,000 people, 1 Sellwood spent on the CRC serves 20,000 people, and 1 Sellwood spent on Milwaukie Light Rail serves 1,700 people. Measured by the number of people who benefit, the Sellwood Bridge is 33 times more cost-efficient than Milwaukie Light Rail.
Am I palming a card by not taking into account that Milwaukie Light Rail is a longer run than the Sellwood Bridge or the CRC? Let's see. If the average trip on MLR is about 3 miles, on the CRC is 1 mile, and on the Sellwood Bridge is 1/2 mile, then MLR will carry about 80,000 people-miles a day (26,000 people times 3 miles, rounded up slightly), the Sellwood Bridge 40,000 people-miles a day, and the CRC about 300,000 people-miles a day. Milwaukie Light Rail will carry about 5,333 daily people-miles per Sellwood, the CRC about 20,000 people-miles per day per Sellwood, and the Sellwood Bridge about 40,000 people-miles per day per Sellwood. The Sellwood Bridge is still 7 times more cost-efficient than Milwaukie Light Rail.