Who thinks the Brooklyn-to-Queens (BQX) would pay for itself? Someone whose paycheck depends on it, Neil deMause argues.
Some boosters of New York's proposed Brooklyn-to-Queens (BQX) streetcar have argued that any spending on the project would just be an investment that would get paid back. Mayor Bill deBlasio and others have said that the value of property near the streetcar would go up, and, they argue, the resulting increase in property tax receipts would "pay off the project’s entire $2.5 billion construction cost, thus getting the city a new light rail line entirely for free," Neil deMause writes for the Village Voice.
This claim does not stand up to scrutiny, according to deMuse: "Investigation of the economic studies underpinning the streetcar’s finances, along with interviews with development and transit experts and the project’s planners, finds that the city’s contention that the BQX would pay its own way relies on untenably optimistic assumptions and creative bookkeeping."
FULL STORY: Betting On De Blasio's $2.5 Billion Streetcar Paying For Itself Is “A Recipe For Disaster"
Brooklyn-Queens Connector Streetcar Plans Released
Plans for the Brooklyn-Queens Connector, otherwise known as the BQX, are still on the table, despite reports of the project's demise.
MIA or DOA? The Brooklyn-Queens Streetcar Fading Fast
The lack of news on the proposed Brooklyn Queens Connector (BQX) is hardly a death knell, but that doesn't mean no news is good news, either.
More Details of Brooklyn-to-Queens Streetcar Proposal Emerge
One interesting detail to note: the BQX streetcar proposal, as its currently known, originated not from the de Blasio Administration but from a Brooklyn-based real estate company.
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