“This is a real-estate deal but not a real-estate deal,”
May 12, 2015 3:45 PM Subscribe
New Balance Bought Its Own Commuter Rail Station [The Atlantic]
If you were in a generous mood, you might call the public transportation system here troubled. Otherwise, you’d call it an ancient, broke, disorganized, mess. The MBTA owes $9 billion in debt. Trains are old. They often can’t run in the snow, which is problematic in a city that got 109 inches last winter. Still, the city of Boston is growing as Millennials and Boomers alike look for walkable, dense places to live. Boston needs more transit, but the state can’t help much: Governor Charlie Baker has proposed cutting $26 million from the state Department of Transportation and $14 million of MBTA funding. So when athletic company New Balance decided to expand its headquarters and build retail, a hotel, a track, and skating rink in one Boston neighborhood not served by public transit, it didn’t wait for the city to agree to build new train stations or add bus routes, which could have taken years. Instead, it decided to build a commuter rail station itself.
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