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| Re: Budget Concerns Threaten To Derail Fulton Transit Hub (561631) | |||
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Re: Budget Concerns Threaten To Derail Fulton Transit Hub |
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Posted by Terrapin Station on Wed Jan 30 13:11:53 2008, in response to Re: Budget Concerns Threaten To Derail Fulton Transit Hub, posted by Kew Gardens Teleport on Wed Jan 30 12:58:03 2008. Here's an example then:The way I understand it, Alphabet City will only develop if there is a subway line there. Once there is a subway line there and the development happens, then the city will get increased revenues. It's those increased revenues that are being used to pay back the loans used to build the subway line. So without building the subway line, the development doesn't happen, and then money isn't there is the future. So that's why the money has to be used on V train panhandle. Here's another example: The way I understand it, the central Bronx will only develop if there is a subway line there. Once there is a subway line there and the development happens, then the city will get increased revenues. It's those increased revenues that are being used to pay back the loans used to build the subway line. So without building the subway line, the development doesn't happen, and then money isn't there is the future. So that's why the money has to be used for replacing the 3rd Avenue El. But those areas already are developed. And, with a lot of housing. The west side is looking to be developed with business (office buildings). There's no way to add more cars to the area, so all these workers would need to arrive via mass transit. Sure they could walk from 8th Avenue, but will the developers accept that? All of the other areas of Manhattan with dense office development have one or more subway lines right nearby, not 2 to 4 long blocks away. |
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