The Inter – Borough Express (IBX), will let passengers commute from Queens to Brooklyn in 40 minutes. IBX was first proposed in 2022 by Governor Kathy Hochul, when data showed far fewer New Yorkers were commuting into and out of Manhattan.
The Metropolitan Transit Authority (MTA) will allocate over $2B for the beginning phases of the construction of the IBX, the 14 mile rail connecting Queens and Brooklyn, New York.
Governor Hochul says “We need to reconnect neighborhoods that were severed by asphalt highways, disproportionately impacting communities of color.” “Stronger rapid transit in Brooklyn and Queens is long overdue. Both boroughs have exploded with residents in recent years, and these communities rely heavily on public transportation.”
According to Gothamist (A non-profit newsroom, powered by WNYC), the line would service 19 stations and connect to 17 different subway lines, revolutionizing public transportation traffic patterns and opening up access to the outer boroughs.
As of now, IBX is a long way from becoming a reality, with the MTA's allocation of finances for the project covering only half of the $5.5B cost.
Officials do not expect that capital will be in place until after 2030.
Given how ambitious this project is and the impact it will have on the day to day lives of New Yorkers, hopefully it will be worth the wait.
To be continued...
Should you have any questions or needs regarding any Real Estate matter please call us at 718-375-2065 or email us at info@accreg.com . We are here for you to help you in any way we can.
If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property, an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.
We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.
Sincerely yours,
Accord Real Estate Group
Your Brooklyn neighborhoods Realtors
