What can we learn from the IRT construction 100 years ago and apply to the new 7 line construction today? Or the decision to not build express tracks on the 2nd Avenue subway? Originally, the plans were for a stop to be constructed at 41st Street and 10th Avenue, but that stop has since been cancelled. Is the MTA missing an opportunity that they will regret in 100 years?  Or are putting the chicken before the egg and ignoring the examples of Columbus Circle and the 7 Line to Flushing where the subways helped fuel development rather than serve existing development?

Subways and other mass transit options have been shown to be powerful tools that the city can use to influence development patterns long out into the future. Perhaps subways and express stops can be used to alter development patterns. Whereas express stops have been shown to increase rental values when compared to local subway stops, an express line on Second avenue could evenly distribute higher end residential areas with more affordable real estate in between; rather than simply reducing the price of real estate linearly as you move up Second Avenue away from midtown and downtown? Perhaps New York City is missing an opportunity to define the next century of development along two of its corridors by not attempting to match the vision August Belmont…

But despite the economic benefits of subway construction which include increased property values near Rail Stations (see Dr. Hess’s work in Buffalo, NY, or more a New York City oriented answer, check Craigslist and look at the rentals section). Additionally, subway transit is not elastic to cost, as many riders do not have another option for getting to work, but transit is elastic to frequency of service. So here’s an idea on how to make more money for the MTA.

Increase service. Develop additional light rail. It sounds radical, but perhaps its time for a new way of looking at the MTA fiscal crisis?