The New York Metropolitan Transportation Authority (MTA) and the City of New York have agreed on “a site-specific value capture strategy” to jump-start development of 341-7 Madison Avenue, the site of the MTA’s former headquarters in East Midtown Manhattan.
Fitch Ratings has placed the ratings of five large U.S. public transit agencies on “Rating Watch Negative.” Fitch said it “expects widespread and sharp declines in transit ridership and fare revenues to create significant near-term stress in the U.S. public transit sector with the [agencies] identified here at the greatest risk. Some transit agencies in major urban areas that have already been impacted by the pandemic are reporting ridership declines of as much as 70% to 90% amid efforts at social distancing, a widespread shift to telecommuting and shelter-in-place orders.”
The Metropolitan Transportation Authority (MTA) issued a Request for Proposals for a real estate license to build out and operate cellular connections in the L line’s tunnel beneath the East River.
The New York Metropolitan Transportation Authority (MTA) Board recently approved the agency’s $17 billion 2020 budget and four-year financial plan.
The Metropolitan Transportation Authority (MTA) has chosen Anthony McCord as its Chief Transformation Officer as it undergoes its Transformation Plan—“a historic reorganization to improve service and modernize all aspects of operations for the first time in half a century.”
The New York Metropolitan Transportation Authority (MTA) and the Partnership for New York City announced the second round of the Transit Tech Lab, described as “an accelerator program that allows the MTA and other public transportation agencies to explore innovative, private sector solutions to problems they face in operating the region’s subway, bus and commuter rail services.”
The Metropolitan Transportation Authority (MTA) released preliminary findings of the Train Speed and Safety Task Force that demonstrate subway train speeds on certain sections of track can be increased by as much as 50%. The task force initiated the study with engineering firm STV, with the help of Transport Workers Union, that remains ongoing but has already determined four core areas of focus that would lead to faster trains while prioritizing customer and employee safety.
Track work at Penn Station New York (PSNY) this summer will have effects on two public transportation lines—NJ Transit (NJT) and Long Island Rail Road (LIRR).
New York Gov. Andrew Cuomo announced March 29 the nomination of Patrick Foye as New York Metropolitan Transportation Authority (MTA) Chairman, as well as those of four new board members.
MTA President Patrick Foye, New York City Transit President Andy Byford and Senior Vice President Subways Sally Librera provided statistics on March 18 to show that the New York subway system has seen a dramatic increase in performance since the implementation of the Subway Action Plan and NYCT’s Save Safe Seconds campaign.