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| Budget Concerns Threaten To Derail Fulton Transit Hub (560640) | |||
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Budget Concerns Threaten To Derail Fulton Transit Hub |
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Posted by Russ on Mon Jan 28 20:24:18 2008 http://www.ny1.com/ny1/NewsBeats/transit.jspJanuary 28, 2008 Plans to build a new transit hub in lower Manhattan are running into some major problems. The MTA says because of escalating constructions costs, the agency may be forced to rethink the entire concept. NY1 transit reporter Bobby Cuza filed the following report. It was supposed to be a grand entranceway to downtown, topped by a signature 50-foot glass dome. But now, this entire above-ground structure, known as the Fulton Street Transit Center, may have to be scrapped. "I am sad to say that we cannot build the transit center as currently envisioned, in this market, with the budget that we have," said MTA Executive Director & CEO Elliot "Lee" Sander. The problem is a construction boom that has driven costs through the roof here in New York. Recently, the MTA received just a single bid on major construction work for this project, and that bid was more than $450 million over budget. As a result, the MTA is going back to the drawing board on the project's design, though it will continue moving forward on all the underground work, which will create easier connections among the nine subway lines that converge here. "All of that work that was promised underground is going to be done, including making all the stations ADA-accessible,Ó said Mysore Nagaraja of the MTA Capital Construction Co. The MTA says it can be done at a cost that only exceeds the project's overall budget by about $30 million. But that leaves no money at all for the above-ground structure, and transit officials say they are re-evaluating all their options, possibly including private development. "We need to discuss with all the stakeholders and then we also need to look at, you know, what we can afford to build there, and then make some decisions," said Nagaraja. Fulton Street is not the only project with problems. The MTA says its major construction projects are collectively looking at a billion dollars or more in inflated costs, and may all require some trimming. Originally, the entire Fulton Street Transit Center was supposed to be complete late last year. Now, it looks like it'll be late 2010 before even just the below-ground work is complete. Ð Bobby Cuza |
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