In an opinion for City & State, Kathryn Wylde, president of the nonprofit Partnership for New York City, makes the case that the Metropolitan Transportation Authority should be allowed to tax properties where value is enhanced by subway proximity.
Value capture, collecting tax increment from subway adjacent properties to help provide money needed to repair the 114-year old subway system, is proposed by New York Gov. Andrew Cuomo and opposed by the New York City Mayor Bill de Blasio.
Over 1,600 new subway cars may be ordered, a minimum of 200 with open gangways, by the Metropolitan Transportation Authority. The first 500 will be purchased from the Japanese company, Kawasaki, to be assembled in Yonkers and Lincoln, Nebraska.
Motorists and truckers would pay tolls to drive south of 60th Street in Manhattan while passengers in taxis and ride-hailing vehicles would pay a surcharge under a plan released Friday by the Fix NYC panel convened by Gov. Cuomo in October.
Depending on what's included, the cost to rebuild the ailing 665-mile system could be $111 billion, but the city's future depends on it. A feature-length New York Times Magazine piece looks at its history and suggests ways to finance rebuilding.
The headline on the New York Times when the "Genius Transit Challenges was announced: "M.T.A. Asks Transit Fans, ‘Who Wants to Be a Subway-Saving Millionaire?’" Now it looks like the winner will already be a millionaire.
As sky-high real estate prices force many lower-income New Yorkers to the periphery, they're paying an additional price in lengthy transit commutes. Meanwhile, real estate interests that benefit from transit investment bear few of its costs.
Ten years after former NYC Mayor Michael Bloomberg's congestion pricing plan died on the state Assembly floor, expect to see a similar plan revived by Gov. Andrew Cuomo (D-N.Y.). New York Times metro reporter, Winnie Hu, explains why it never died.
Earlier this summer, the governor of New York promised an ambitious plan to fix the MTA subway system. Now, at the end of the promised timeline for that plan, critics are saying that the city is left with more of the same.
While the New York subway's need for infrastructure investment is well documented, it was an improperly placed rail that caused two subway cars to derail on a southbound A train on Tuesday morning in Harlem.