Trouble in the Desert? The sources quoted in this article by Bloomberg aren't betting on the success of a high-speed rail line between Las Vegas and San Bernardino County in California.
Romy Varghese and Nathan Crooks reveals an underreported story involved in the effort by Virgin Trains USA to build a high-speed rail route between Southern California and Las Vegas: growing concerns about the business model of the private equity firm Fortress Investment Group, owner of the company.
Virgin Trains USA was full of positive news regarding the project over the summer, claiming the project would start construction in the coming year. But there is bad news about the company behind the company reported here. It starts with stagnant ridership on the company's existing service in Florida, and a stagnant expansion of the project:
There’s also no word on when additional stations may open in Tampa and at Walt Disney World. Tapping Disney tourists was an ultimate goal pitched to buyers of the high-yield municipal debt the company sold in April and June for the Orlando expansion. The sales occurred several months after the company put its initial public offering on hold. Since then, yields on the unrated bonds suggest the market is skeptical that the Florida train will work out as well as hoped.
The article quotes multiple sources who express doubts about getting involved in the Vegas project given the company's performance in Florida.
FULL STORY: A Private Equity Firm Wants to Build a Train to Las Vegas
California to Las Vegas High-Speed Rail: Expected for Construction in 2020
Virgin Trains USA, formerly Brightline, is making progress on long-anticipated plans for a high-speed rail connection between Las Vegas and Victorville, California.
Chinese Bullet Train to Come to American Southwest
America's third planned high-speed rail line received good news on Sept. 17, by entering an agreement with China Railway Group to receive $100 million to start building the 230-mile line from Victorville, Calif. to Las Vegas.
Planting Relief: Tackling Las Vegas Heat One Tree at a Time
Nevada Plants, a Las Vegas-based nonprofit, is combating the city’s extreme urban heat by giving away trees to residents in underserved neighborhoods, promoting shade, sustainability, and community health.
Trump Administration Could Effectively End Housing Voucher Program
Federal officials are eyeing major cuts to the Section 8 program that helps millions of low-income households pay rent.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Canada vs. Kamala: Whose Liberal Housing Platform Comes Out on Top?
As Canada votes for a new Prime Minister, what can America learn from the leading liberal candidate of its neighbor to the north?
Washington State’s Parking Reform Law Could Unlock ‘Countless’ Acres for New Housing
A law that limits how much parking cities can require for residential amd commercial developments could lead to a construction boom.
Wildlife Rebounds After the Eaton Fire
Following the devastation of the Eaton Fire, the return of wildlife and the regrowth of native plants are offering powerful signs of resilience and renewal.
LA to Replace Inglewood Light Rail Project With Bus Shuttles
LA Metro says the change is in response to community engagement and that the new design will be ready before the 2028 Olympic Games.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Central Transportation Planning Staff/Boston Region MPO
Heyer Gruel & Associates PA
Institute for Housing and Urban Development Studies (IHS)
City of Grandview
Harvard GSD Executive Education
Regional Transportation Commission of Southern Nevada
Toledo-Lucas County Plan Commissions