SOARING PROPERTY VALUES NEAR SUBWAY EXTENSION POINT TO A NEW MTA FUNDING MODEL

Crain’s Magazine

Crain’s magazine gets Georgist, aka Tax Increment Financing to complete the 2nd Avenue Subway.

A Crain’s analysis finds that apartments near the Second Avenue subway appreciated by a third. Capturing tax proceeds from such gains could help fund the next phase.

See details in interactive article:

https://www.crainsnewyork.com/crains-forum-subway-expansion/new-york-real-estate-soaring-value-near-second-ave-subway-points-new