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NYC Subway to Receive $6B Investment to Address Chronic Flooding 

New York State plans to invest $6 billion over the next decade to address chronic flooding in New York City subway stations caused by climate change. The Metropolitan Transportation Authority (MTA) and Governor Kathy Hochul aim to protect the city’s transit infrastructure from flooding in tunnels and stations during heavy rainstorms. 

The MTA’s “Climate Resilience Roadmap” includes constructing raised steps and elevated street vents to prevent stormwater from entering below-grade stations, investing in drainage and pumping equipment to prevent train service disruptions, and elevating equipment at flood-prone subway yards and bus depots. The plan also addresses threats to MTA bridges from heat exposure and aims to protect regional rail lines from tidal flooding and sea-level rise. 

Funding for these initiatives will be supported by congestion pricing, a charge on most standard vehicles entering Manhattan below 60th Street, expected to begin in June. 

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About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.

  • ◦Financing
  • ◦Policy/Gov't