As New York’s transit-minded community has analyzed Jay Walder’s departure, our city’s infrastructure deficit has come under the microscope. With obstructionist politicians and mounting debt, the future is hazy for New York City’ transit system. Hong Kong’s MTR, on the other hand, is thriving.
In The Daily News today, Alex Marshall of the RPA looks toward Hong Kong for some transit lessons. The MTA would be wise to imitate the MTR with regards to development. In Hong Kong, the MTR has maintained its real estate holdings while developing and monetizing them. In New York, the MTA gave up the Atlantic Yards land in a below-market deal.
Ultimately, New York will have to reform the way it interacts with its transit network before we can truly move forward. But will the debt lead to a collapse before that time comes? Jay Walder, for one, isn’t sticking around to find out.