An agreement that would provide Citi Bike with a substantial capital investment—greatly expanding its geographic reach and number of bikes—is in final stages of negotiations, according to the Wall Street Journal.
"Citi Bike and its operator stand to get tens of millions of dollars to expand New York's popular bicycle-sharing program in a deal that could close within a week," reports Andrew Tangel.
"REQX Ventures, an affiliate of real-estate giant Related Cos., is close to hammering out an agreement that could enlarge the footprint of Citi Bike to upper Manhattan, into Queens and further into Brooklyn over the next few years, these people said. The number of bikes would nearly double, from 6,200 to about 12,000."
Tangel also states that the additional infrastructure would make it easier for U.S. Alta, which runs Citi Bike, to raise the price of annual memberships to the bike share program. Membership could rise to $140, speculates Tangel.
Read the full story: Citi Bike Poised for a Big Infusion of Cash
Launch of Chicago Bike Share Delayed Again; Are Citi Bike's Problems to Blame?
It turns out New York isn't the only large city struggling to get its heralded bike-share system off the ground. Chicago's rush to launch Divvy has hit a snag, delaying the program's launch by two weeks.
Delayed NYC Bike-Share Gets New Launch Date
After weeks of speculation after its supposed July launch date came and went, this morning Mayor Michael Bloomberg announced that New York's much anticipated bike-share program will be seen on city streets beginning next March.
Study: Protected bike lanes increase Citi Bike rides by nearly 400 rides a month
An analysis of millions of NYC bike share rides reveals that only protected bike lanes have a 'statistically significant' increase in ridership.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
California plans to bury El Niño’s downpour
If the state plays its cards right, it may be able to store a billion acre-feet of El Niño’s water in aquifers.
Desperate measures: Advocates weigh draining Lake Powell to fill Colorado River
Draining the reservoir could reduce evaporation losses by a couple hundred thousand acre-feet.
Los Angeles just elected an urban planner as its mayor
Transportation analysts are optimistic that Raman will be more aggressive in addressing transit issues than Bass.
Mamdani’s pied-à-terre tax survives legal challenge
A panel of judges found that the plaintiffs failed to demonstrate injury as a result of New York City's implementation of the tax.
Eastern Nebraska is running out of electricity
Data centers and electrification are straining eastern Nebraska’s grid, throttling economic development.
FREE Course: Walkable City 1: Why Walkability?
After describing his path towards focusing on walkability as the essence of good planning, Jeff Speck marches through his five principal reasons for making more walkable places.
Reinventing Malls: Planning Alchemy—Turning Gray Fields Into Gold
The course focuses on the opportunities and imperatives that shape reinvention of mall sites.
City of Rosemead
Rutgers University, Edward J. Bloustein School of Planning and Public Policy
One Hundred Miles
University of Michigan School for Environment and Sustainability (SEAS)
Hunter College, City University of New York (CUNY)
The Architects Foundation
City of Cambridge
Montrose County
The Pocatello Development Authority