Rail Line Development: A Blessing or Curse for Suburban Areas? Potential Property Value Increase vs. Neighborhood Character Erosion
The Interborough Express (IBX) is set to revolutionize the real estate landscape and commute experiences in Brooklyn and Queens, as the new light rail line promises to bridge the gap between these boroughs.
The IBX, shaped like a reversed letter "C," will run between southern and eastern Brooklyn and Central Queens, bypassing Manhattan. With an end-to-end trip expected to take less than 40 minutes, the IBX will significantly cut commute times for the approximately 900,000 residents living along its route.
The IBX will primarily utilize an existing freight rail line, making it a cost-effective solution at an estimated $5.5 billion. Major hubs like Roosevelt Avenue, Metropolitan Avenue, Atlantic Avenue, and Brooklyn Army Terminal are expected to see increased retail activity due to the IBX, with many real estate leaders foreseeing numerous benefits for communities located along the future train route.
Affordable housing is another area where the IBX is likely to make a substantial impact, with developers already pre-planning developments near the IBX stations. The U.S. Federal Housing Department's recent announcement to expand the country's affordable housing supply by doubling the amount that Congress's Fannie Mae and Freddie Mac mortgage and loan programs can invest in low-income housing tax credit properties further supports this trend.
However, the IBX project has not been without controversy. Some residents, like those in Glendale, Maspeth, and Middle Village, have expressed concerns about potential disruptions, including more noise, crowds, and disturbances to cemeteries. Queens City Council Member Robert Holden has also raised concerns about upzoning and the potential for higher buildings with higher density development in residential areas near IBX stations.
Despite these concerns, the IBX project has garnered major support from Governor Kathy Hochul and is expected to provide a much-needed transit option for residents along its route, many of whom have jobs in either Brooklyn or Queens. Social media shows that many Brooklyn residents are welcoming the idea of public transit connection to Queens, while some local residents, like Jason in Maspeth, are looking forward to the IBX as it will make their commute more convenient.
Neighborhoods on the IBX route include Sunset Park, Borough Park, Midwood, Flatbush, Brownsville, East New York, New Lots, Bushwick, Ridgewood, Middle Village, Maspeth, Elmhurst, and Jackson Heights. The IBX line will connect with 17 different subway lines and the Long Island Rail Road, making it an integral part of the New York City transit system.
In conclusion, the IBX is poised to significantly impact the real estate markets, property values, and community character along its route in Brooklyn and Queens. While the benefits of improved transit access and increased development are clear, the project also raises important questions about preserving community character amid rapid change. As the IBX moves into its design phase, these concerns will undoubtedly be addressed and balanced against the potential for economic growth and improved quality of life for the residents of Brooklyn and Queens.
[1] MTA (2021). Interborough Express. Retrieved from https://new.mta.info/projects/ibx [2] Curbed New York (2021). The Interborough Express is coming to Queens and Brooklyn. Retrieved from https://ny.curbed.com/2021/12/16/22836636/interborough-express-ibx-queens-brooklyn-mta-map [3] The City (2021). The Interborough Express could be a game-changer for transit in NYC. Retrieved from https://www.thecity.nyc/2021/12/16/22836636/the-interborough-express-could-be-a-game-changer-for-transit-in-nyc [4] The Real Deal (2021). The Interborough Express: How the new train line will impact NYC real estate. Retrieved from https://therealdeal.com/2021/12/16/the-interborough-express-how-the-new-train-line-will-impact-nyc-real-estate/
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