http://www.planNYC.org/ PlanNYC | New York City Planning Information Portal en-us ja3n@earthlink.net http://www.plannyc.org/modules.php?op=modload&name=Issues&file=index&catid=1&issueid=4#4320 Two large shafts are being dug on the West Side in Midtown in order to lower the machines which will bore the tunnels for the new Number 7 train extension. These machines will not be in the city until early next year, but work is expected to be completed, for the new station and train storage area on 34th Street and 11th Avenue, by 2013. 2008-06-11 00:00:00 http://www.plannyc.org/modules.php?op=modload&name=Issues&file=index&catid=1&issueid=4#4245 According to bond analysts, financing for repayment on the $2 billion in bonds issued in 2006 to help fund the number 7 subway line extension appears to be secure despite delays and setbacks in the development projects whose revenues were intended to back the notes. The bonds are backed primarily by revenue streams coming from the sale of development rights, development fees, and various payments in lieu of taxes within a special Hudson Yards Financing District that includes the 26-acre Hudson Railyards sites. Complications in negotiations of the sale of development rights for that site, as well as setbacks in other projects in the area like Moynihan Station and the Javits Center expansion, have some investors worried, but representatives from bond rating agency Standard & Poor’s insist that their ratings on the bonds were not linked to any particular development project and thus the ratings would not be affected. Mayor Bloomberg has set aside money in the City’s budget to cover debt payments on the bonds, but so far it has not been needed thanks to existing revenues coming in from smaller developments in the Hudson Yards Financing District. 2008-05-19 00:00:00 http://www.plannyc.org/modules.php?op=modload&name=Issues&file=index&catid=1&issueid=4#4215 Following comments made by Senator Charles Schumer (D-NY) about the future development on Manhattan's West Side, Mayor Mike Bloomberg warned the Senator that "we set the cities priorities – they don't come out of Washington." Schumer and Bloomberg disagree on what essential elements are needed to get the Hudson yards project back on track. Schumer contends that Moynihan Station should be the top project, while Bloomberg has emphasized the extension of the No. 7 Subway line. The elected officials also disagree on who should spearhead the Moynihan Station project – Schumer would like to see the port Authority in control and Bloomberg disagrees. 2008-05-12 00:00:00 http://www.plannyc.org/modules.php?op=modload&name=Issues&file=index&catid=1&issueid=4#4090 Due to a slowing economy, financial instability, logistical issues and setbacks with Penn Station and Javits Convention Center, Mayor Bloomberg’s overarching plans for redeveloping the West Side are in jeopardy. Several in the planning community believe that the City should use the delays as an opportunity to focus its efforts on rethinking the development plans for the area. Some urban planners argue that a less ambitious plan of establishing incremental developments toward the West Side would be more practical. 2008-04-14 00:00:00 http://www.plannyc.org/modules.php?op=modload&name=Issues&file=index&catid=1&issueid=4#3844 Prompted by increasing costs and delays, the MTA recently conducted a financial review of their major capital projects. The No. 7 Subway line extension was omitted from the review despite concern from transit advocates that inflated costs on the project are very likely. According to MTA officials, it was not included because of continuing negotiations between the city and state regarding funding. 2008-02-27 00:00:00 http://www.plannyc.org/modules.php?op=modload&name=Issues&file=index&catid=1&issueid=4#3804 Community Board 4 has sent a letter to the Metropolitan Transportation Authority (MTA) and the city opposing the continuation of No. 7 subway line extension until all financial questions are settled. With the MTA currently facing cost overruns on numerous transportation projects, the community board fears that unless a financing agreement is completed before the projects continues, it is possible that the planned subway extension may never be completed. 2008-02-21 00:00:00 http://www.plannyc.org/modules.php?op=modload&name=Issues&file=index&catid=1&issueid=4#3681 The East Side Access Project, 2nd Avenue Subway and the Number 7 Extension line will all be reviewed in the coming month by the Metropolitan Transportation Authority in an effort to cut costs without compromising the Authority’s transportation goals. The MTA recently scaled back plans for the Fulton Street Transit Center glass entranceway because of costs. High construction and materials costs have lead recently to these transportation projects to be over budget and behind schedule. The three keys projects – East Side Access, 2nd Avenue Subway and the Number 7 Extension – have a combined budget of $12.5 billion. MTA Executive Director Eliot Sander has said that cutbacks will hopefully not directly affect riders. 2008-01-29 00:00:00 http://www.plannyc.org/modules.php?op=modload&name=Issues&file=index&catid=1&issueid=4#3585 Mysore Nagaraja, president of the Metropolitan Transportation Authority’s Capital Construction Co., is leaving at the end of January to take a consultant position in the private sector. His projects included the LIRR extension to Grand Central Terminal, the Second Avenue subway, the Fulton St. Transit Center and the No. 7 train extension. MTA officials express concern about how Nagaraja's departure will affect delays and rising costs for these projects. 2008-01-09 00:00:00 http://www.plannyc.org/modules.php?op=modload&name=Issues&file=index&catid=1&issueid=4#3529 Federal, State and Local officials are continuing to push for a 10th Avenue stop on the #7 train extension. The city cut the stop from their plans in order to stay within budget constraints. But many believe that the elimination of the stop will be a determinant to the proposed development on the West Side and that resources allocated for other projects could be used to build the subway stop. A spokesman for Mayor Bloomberg suggested that leaders in Albany and Washington should help secure the funding necessary for the 7 Line expansion. At a recent hearing on the West Side development, MTA Executive Director Lee Sander said that he hopes the MTA will pick a bid for the Hudson Yards project by March. Profits from the Hudson Yards site are expected to go into the MTA’s capital projects budget 2007-12-21 00:00:00 http://www.plannyc.org/modules.php?op=modload&name=Issues&file=index&catid=1&issueid=4#3434 In a ceremonial groundbreaking, Governor Spitzer and Mayor Bloomberg revealed the new sign for the No. 7 subway expansion at the planned station at 34th St. and 11th Ave. Work will begin on extending the line to the Jacob Javits Convention Center stop next week. Despite calls from residents and U.S. Senator Chuck Schumer, there are currently no plans to build a second station at 41st St. and 10th Ave. The City says that the current planned station is vital for the Hudson Yards development, but Hells Kitchen is developing on its own. 2007-12-04 00:00:00 http://www.plannyc.org/modules.php?op=modload&name=Issues&file=index&catid=1&issueid=4#3432 Officials from the Metropolitan Transportation Authority (MTA) and the city are expected to participate in the groundbreaking of the Number 7 Subway extension today. The MTA awarded a contract in October for construction of a new 1.5 mile tunnel that will connect the Javits Center to Times Square. It remains unclear if a station at 10th Avenue and 41st Street which would service Hells Kitchen will be included in the expansion. The MTA continues to seek $450 million in funding for that station. The project is expected to be completed in 2013. 2007-12-03 00:00:00 http://www.plannyc.org/modules.php?op=modload&name=Issues&file=index&catid=1&issueid=4#3424 In a letter to the City, Senator Chuck Schumer said that money budgeted to create a pedestrian boulevard at Hudson Yards should be redirected toward the No. 7 line extension. Schumer said that increasing the City’s infrastructure is the more important goal, and wants to see the money go to building a second No. 7 line station on 10th Avenue, a plan which has been scrapped for financial reasons. The City says that the money is already committed and that the pedestrian boulevard is a vital part of the plan for the economic redevelopment of Hudson Yards. 2007-12-01 00:00:00 http://www.plannyc.org/modules.php?op=modload&name=Issues&file=index&catid=1&issueid=4#3367 A $1.14 billion joint contract between 3 firms has been signed for the construction of the Number 7 Subway extension project. The proposal includes extending the 7 subway line from Times Square to the West side of Manhattan. Included in the contract are J.F. Shea construction, Shiavone Construction Company, and Skanska. This conglomeration, S3 Tunnels, has experience working in New York City already. 2007-11-21 00:00:00 http://www.plannyc.org/modules.php?op=modload&name=Issues&file=index&catid=1&issueid=4#3223 The MTA approved a contract yesterday to help finance the extension of No. 7 train. The $1.4 billion contract will fund digging the tunnels that will run from Times Square to the Jacob Javits Center. The City is sharing the costs of the project with the Authority, promising up to $2.1 billion. However, at this point it is unclear who willl bear the financial burden if the project exceeds $2.1 billion. 2007-10-24 00:00:00 http://www.plannyc.org/modules.php?op=modload&name=Issues&file=index&catid=1&issueid=4#3211 Mayor Bloomberg will ask the state for another $450 million to fund the extension of the No. 7 train line, since cost constraints have limited the project to only one station. The City, which is currently funding the project in its entirety, is requesting help from the Metropolitan Transportation Authority (MTA). The MTA says that it is giving funding priority to other projects, such as the 2nd Avenue Subway line. 2007-10-23 00:00:00