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.



As the MTA looks to shore up both its operating budget and five-year capital plan, the agency is prepared to turn toward a set of familiar funding sources to stay afloat. In a sweeping budget released yesterday at its Board meeting, the authority reiterated that its operating budget will require fare hikes as planned in both 2013 and 2015 as well as the current mix of dedicated taxes if the agency is to maintain a balanced budget. Meanwhile, the capital plan will rely on even more debt as the authority plans to borrow nearly $7 billion to close its funding gap.













