Sen. Klein and Bronx BP Ruben Diaz Jr. Release Analysis Showing Economic Benefits to the Bronx from Metro North's Proposed Expansion

Metro North expansion is predicted to create 5,400 new jobs, increase home values by up to $142,400 and add over a billion dollars in added business sales in the Bronx

Today, New York State Senate Co-Leader Jeff Klein and Bronx Borough President Ruben Diaz Jr. joined union leaders, Bronx business owners, employers, homeowners and community leaders to announce economic benefit projections of the MTA Metro North transportation expansion into the Bronx.

The MTA Metro North proposal includes building four new Metro North stations in the East Bronx on current Amtrak lines, in Co-op City, Hunts Point, Morris Park and Parkchester.

In an economic white paper released today, experts project that the Metro North expansion plan will create 5,400 new jobs, increase home vales by more than $140,000, and increase business activity in the Bronx by more than $1 billion.  The economic analysis was conducted at the behest of Senator Klein and Bronx Borough President Diaz. 

Senator Jeff Klein said, “As Bronx Week kicks off, I am happy to announce that the MTA Metro North expansion is something the Bronx can really celebrate. This expansion will not only give over 160,000 Bronx residents a better way to commute into Manhattan, but it will also help drive new business and economic growth into the East Bronx. These stations will open up a fast, easy and direct link to the suburbs and Manhattan – which means an added boost of over $1.1 billion to local businesses both large and small. The expansion is also good news for area homeowners, who will see home values rise by more than $140,000. Finally, with one of the highest unemployment rates in the state, all Bronxites stand to benefit from the creation of over 5,400 new jobs.

“The benefits are clear and will be critical to launching the Bronx into the 21^st century and beyond. Working with the Bronx Borough President and community stakeholders, I am committed to doing whatever I can to support this expansion for the benefit of the Bronx at large.”

“The expansion of Metro North service to the East Bronx has the potential to transform not just the Bronx, but the entire region. This project has been a priority of mine since I first became borough president, and I continue to push the MTA to include these four stations in their five-year capital plan. This analysis shows just how great an impact this project will have in our borough, and we cannot afford to miss out on new jobs and new economic activity. It is time to make this project happen, and I will continue to work with State Senator Jeff Klein, our elected officials, businesses, institutions and all Bronxites to bring Metro North service to the East Bronx. It is time for this long-held dream to become a reality,” said Bronx Borough President Ruben Diaz Jr. 

In an analysis of the MTA Metro-North Expansion into the East Bronx released today by Senator Klein and Borough President Diaz, highlights included:

Economic Indicator	Economic Benefit
Potential Job Creation	5400 jobs
Increase in Business Sales	$1.151 billion
Residential Property Values Potential Increases	Up to $142,400
Condominium Value Potential Increases	Up to $70,848
Commercial Property Values Potential Increases	Up to $450.00 increase per square foot
Retail Rental Increases	An increase of almost $4, 175 of rental income a month

  

General Chairman of Association of Community Rail Employees Anthony Bottalico said: “Expanding transportation options is a win-win for not just the Bronx, but New York at large. With these four new stations in the Bronx, we’re giving Bronx business owners and residents easy access all over New York. But we’re also creating high-quality jobs for those who build and maintain these stations right here in the Bronx. Investing in rail expansion now, will have economic benefits – including quality job creation – for years to come and I thank Senator Klein and Borough President Diaz for championing this incredible boost for the Bronx.” 

“Metro North service on the Amtrak line, including a Morris Park stop, will help transform Einstein as well as our local community,” said Gordon Earle, Associate Dean of Public Affairs and Communications at Albert Einstein College of Medicine. “It will provide major benefits for our faculty, researchers, students and the entire East Bronx medical community, providing easy access to Manhattan, as well as to Washington DC and points north.  We are extremely enthusiastic about the plan.”

 Left - Senator Jeff Klein speaks about how the four new Metro North East Bronx Stations would benefit the entire Bronx. He adds that as Senate Co-President that he has to sign off on the new five year Metro North Capital Plan which better include these four new East Bronx stations.

Right Bronx BP Ruben Diaz Jr. holds up the report that he and Senator Klein have come out with as to the economic impact that the four new Metro North stations will have on the Bronx.

Others in the photos are Community Board 10 District Manager Ken Kearns, Community Board 11 District Manager Jeremy Warneke, Community Board 11 Chair Tony Vitaliano and Community Board 2 Chair Ian Armit, Morris Park property owner Patrick O'Connell, Pelham Bay Community Leader Joseph Oddo, in addition to Gordon Earle, Associate Dean of Public Affairs and Communications at Albert Einstein College of Medicine, and a few others.

MTA's plan for building would establish four new East Bronx Metro North Stations would by 2019.

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