Search
 

ARC Tunnel: White Elephant or Good Bet?

TRENTON-There’s been a lot of talk about New Jersey Gov. Chris Christie’s axing the nearly $9-billion ARC tunnel project, but there are a handful of alternatives that don’t carry the same bloated price tag.

By Alyson Grala | Updated on October 08, 2010

TRENTON-Last week, New Jersey Gov. Chris Christie nixed the Access to the Region’s Core project, a trans-Hudson rail link that would have bored two new train tunnels under the river and ostensibly doubled commuter capacity between the Big Apple and the Garden State. Christie’s decision was based in what he saw as the project’s excessive costs.

Indeed, the Department of Transportation found that the project could outpace its $8.7 billion budget by up to $5 billion. And any cost overruns would be absorbed by state taxpayers–a burden that Christie says will not stand. “Considering the unprecedented fiscal and economic climate our state is facing, it is completely unthinkable to borrow more money and leave taxpayers responsible for billions in cost overruns,” he said in a statement. “The ARC project costs far more than New Jersey taxpayers can afford and the only prudent move is to end this project.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.