Search
 

East Side Access Derailed…Again

NEW YORK CITY-New time and budget estimates, slated to be revealed next week, push the project's completion date into the next decade and its price tag up significantly.

By Rayna Katz | Updated on January 24, 2014

NEW YORK CITY-Members of the Metropolitan Transportation Authority board are in for a bad start to their week on Monday, when the organization’s officials are scheduled to present a new timeline—and budget—for the East Side Access project, according to the Wall Street Journal.

Initially expected to cost $8.3 billion and be completed in 2019, the project could now cost more than $10 billion and take until 2021 to complete. Whenever it’s finished, the project will create a new below-ground train station linking the Long Island Railroad’s main line tracks in Queens to a subway tunnel at East 63rd street, and then to a new station just north of Grand Central station.

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.