Tag: economic development
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(Terminal)ogy
The Metropolitan Transportation Authority (MTA) is North America’s largest transportation network, and it moves approximately 2.4 billion New Yorkers a year on its subways, buses, railroads, bridges and tunnels. The MTA provides service for one-third of the transit riders in America, employs over 67,000 workers, covers an area of approximately 5,000 square miles, and moves 8.7…
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Enabling Communities to Build Their Own Plazas
All over the country more and more cities are catching on to the idea that public space can be created quickly and cheaply; expensive master plans are becoming a thing of the past. Typically a community partner—a business improvement district or non-profit community organization—can apply through the municipality to transform an excessive roadway into…
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Ameraissance of Transportation Finance
“New York never stops. From morning-rush commuters to late-night club-goers, from school children on subways to seniors on buses, millions of people rely on the Metropolitan Transportation Authority (MTA) to get them through their daily lives. Without a robust and well-maintained network of railroads, subways, bus routes, bridges, and tunnels, New York as we…
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Value Capture and Joint Development
What does real estate have to do with public transportation? Actually, quite a lot. From Michigan Central Station in Detroit to the Hudson Terminal, Helmsley Building, and Hotel Pennsylvania in NYC, American railroads of the 20th century maintained a profit partly due to the transportation hub real estate assets they developed, owned, leased, and/or maintained vis-a-vis value…
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Glimpse: Fulton Center
“Glimpse” is a new PYC series for on-the-go readers interested in concise, image-laden posts… The well-lit Fulton Center will be completely opened within the next few months, but I was granted access to the construction site in late August, in the company of Daniel Peterson, PE, who came up with the floor plan for the Fulton Center.…
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The MTA’s Missed Opportunity
Long Islanders cheered Andrew Cuomo when he intervened in the recent dispute between the MTA and LIRR workers, who had threatened a strike over demands for wage increases. When negotiations stalled between the LIRR, which had demanded a 14% raise over six years, and the MTA, whose offer to spread the same raise over seven…