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They want to build a light rail across Manhattan, stopping at every street along 42nd st.  What’s wrong with the subway? An economic study commissioned by Vision 42 with grant money and done by the consulting firm Urbanomics of New York, projected that about 398 office properties along 42nd Street would have an average increase in lot value of $188 a square foot because of the time saved with a light rail line, a combined increase in value of 4 percent. Jeffrey Gural, the chairman of Newmark Knight Frank, a real estate company that manages office buildings along 42nd Street, said it would make sense to connect the Javits Center to the United Nations, which currently has no subway stop. “I think light rail would be a great tourist attraction, and I’ve never understood why it never got any support by the local government,” Mr. Gural said. (NYT)

They want to build a light rail across Manhattan, stopping at every street along 42nd st.  What’s wrong with the subway?

An economic study commissioned by Vision 42 with grant money and done by the consulting firm Urbanomics of New York, projected that about 398 office properties along 42nd Street would have an average increase in lot value of $188 a square foot because of the time saved with a light rail line, a combined increase in value of 4 percent. Jeffrey Gural, the chairman of Newmark Knight Frank, a real estate company that manages office buildings along 42nd Street, said it would make sense to connect the Javits Center to the United Nations, which currently has no subway stop.

“I think light rail would be a great tourist attraction, and I’ve never understood why it never got any support by the local government,” Mr. Gural said.

(NYT)

October 27, 2009 / 9:03am
#times square #vision 42 

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