New York & Tri-State + Finance | March 31, 2021

NYC’s Congestion Pricing Plan Gets Federal Go-Ahead for Next Step

The U.S. Department of Transportation on Tuesday gave the go-ahead for New York City’s congestion pricing plan to launch its federally required environmental review. Reportedly the first legislation of its kind in the U.S., the plan stalled after its passage by the New York State Legislature in 2019.

Gov. Andrew Cuomo and Mayor Bill de Blasio thanked DOT and the White House for moving the plan forward. At the Real Estate Board of New York, president James Whelan said, “We applaud the Biden Administration for demonstrating its clear commitment to advancing New York’s congestion pricing plan as quickly as possible. Once implemented, this pioneering initiative will help to reduce traffic and air pollution while generating a new and sustainable stream of much-needed revenue” for mass transit infrastructure.

He added that the mass transit revenue generated by congestion pricing would play “an important role in advancing a strong recovery.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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