City Council Speaker Christine Quinn led a delegation of New York City real estate executives to Washington today to lobby for federal funding for a second station for the extension of the No. 7 subway line in Manhattan, according to a Wall Street Journal article today by Michael Howard Saul.
They met with Vice President Joe Biden's staff to discuss their hopes of getting hundreds of millions of dollars to build a subway station at 10th Avenue and 41st Street.
The city, which agreed to pay for the extension for the cash-strapped Metropolitan Transportation Authority, is spending $2 billion to extend the No. 7 line from Times Square to 34th Street and 11th Avenue, the article noted, adding that "A 41st Street station was originally in the plans, but Mayor Michael Bloomberg scrapped it when costs skyrocketed" and "The city estimates that the station would cost an extra $500 million."
Steve Spinola, president of the Real Estate Board, was quoted as stating that a station at 41st Street would make the neighborhood a more desirable place to live and work, and failing to build it would be a "terrible, terrible mistake." Mr. Spinola said a report commissioned by his organization suggests supporters have roughly a year to secure funding before it's too late, but the article said that "the city believes the time frame is closer to two weeks."
The article said an official said that the "administration plans to move forward with the next set of contracts on the project, and turning back to build a second station after these contracts are issued, would result in tens of millions of wasted dollars."
The article said that Andrew Brent, a spokesman for the mayor, said "We're open to talking about what happens if someone finds additional funding, but we're certainly not going to hold up the project hoping that happens," adding that "A 10th Avenue station would be nice, but the MTA and state budget problems are well-known, and the city is in no position to step in to pay for that, too."
If federal funds can be secured, Mr. Spinola said, officials in the Bloomberg administration told him there's a "strong desire to find another $250 million" in city funds, the article said, adding however that "Mr. Brent said the city made no such assurance."
Ms. Quinn said that "We're working to rebuild an entire neighborhood, and an important key to that is having a strong transportation system."
Hal Fetner, chief executive of Durst Fetner Residential and a building owner in the neighborhood, was quoted in the article as maintaining that said the area is underserved by public transit: "The city, state and federal government recognize how complex the construction and financing of this subway station is, but if we don't do it now, we will never have another opportunity."
They met with Vice President Joe Biden's staff to discuss their hopes of getting hundreds of millions of dollars to build a subway station at 10th Avenue and 41st Street.
The city, which agreed to pay for the extension for the cash-strapped Metropolitan Transportation Authority, is spending $2 billion to extend the No. 7 line from Times Square to 34th Street and 11th Avenue, the article noted, adding that "A 41st Street station was originally in the plans, but Mayor Michael Bloomberg scrapped it when costs skyrocketed" and "The city estimates that the station would cost an extra $500 million."
Steve Spinola, president of the Real Estate Board, was quoted as stating that a station at 41st Street would make the neighborhood a more desirable place to live and work, and failing to build it would be a "terrible, terrible mistake." Mr. Spinola said a report commissioned by his organization suggests supporters have roughly a year to secure funding before it's too late, but the article said that "the city believes the time frame is closer to two weeks."
The article said an official said that the "administration plans to move forward with the next set of contracts on the project, and turning back to build a second station after these contracts are issued, would result in tens of millions of wasted dollars."
The article said that Andrew Brent, a spokesman for the mayor, said "We're open to talking about what happens if someone finds additional funding, but we're certainly not going to hold up the project hoping that happens," adding that "A 10th Avenue station would be nice, but the MTA and state budget problems are well-known, and the city is in no position to step in to pay for that, too."
If federal funds can be secured, Mr. Spinola said, officials in the Bloomberg administration told him there's a "strong desire to find another $250 million" in city funds, the article said, adding however that "Mr. Brent said the city made no such assurance."
Ms. Quinn said that "We're working to rebuild an entire neighborhood, and an important key to that is having a strong transportation system."
Hal Fetner, chief executive of Durst Fetner Residential and a building owner in the neighborhood, was quoted in the article as maintaining that said the area is underserved by public transit: "The city, state and federal government recognize how complex the construction and financing of this subway station is, but if we don't do it now, we will never have another opportunity."
Architecture Critic
Carter Horsley
Since 1997, Carter B. Horsley has been the editorial director of CityRealty. He began his journalistic career at The New York Times in 1961 where he spent 26 years as a reporter specializing in real estate & architectural news. In 1987, he became the architecture critic and real estate editor of The New York Post.
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