Fulton St. Transit Hub Snub
Originally labeled as a centerpiece of Lower Manhattan's revival after 9/11, the Fulton St. transit hub project has reached a road block. Rising real estate and construction costs have turned this project, which once labeled as a rival to Grand Central Station, into just another train station.
The glass-dome building pictured above will be replaced with a street level plaza. Amazingly, the MTA says they are over $400 million over-budget! And will open in 2010, not in 2009 as agreed.
The Fulton Street will connect the R/W subway lines and allow transfers to the 2, 3, 4, 5, A and C lines. The MTA is going back to the drawing board, no one knows what will happen to the above ground shopping plaza. Reports have surfaced that several companies were interested in investing in the property but the MTA acquired the property with eminent domain, legally it might be difficult to turn it over to a private company. What no one is mentioning is all the people and business' that have been kicked out to make all of this happen...only to find out that its still just going to be a big rat-hole...
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