Although past research and experience have demonstrated the benefits of bus rapid transit (BRT) to the transportation system, implementation of BRT on congested local arterials having minimal or no rights-of-way remains a challenge. A feasible solution is to use the two-way left-turn lane (TWLTL) in the center of local streets for the purpose of BRT during peak hours. However, a TWLTL can be used in two ways for this purpose: directly as a median BRT lane and as a reversible general traffic lane (so that the curb lane is reserved for BRT). Without a clear understanding of the impacts of traffic characteristics, intersection layouts, and traffic signal control types on each of the alternatives, transit agencies usually have difficulty in determining the option that best serves transit vehicles and simultaneously minimizes impacts to the general traffic. This study evaluates the performance of a median BRT lane and a curb BRT lane and considers varying traffic conditions and physical configurations of the street and the intersections. The pros and cons of each alternative are also specified, in accordance with the simulation analysis.