An agreement that would provide Citi Bike with a substantial capital investment—greatly expanding its geographic reach and number of bikes—is in final stages of negotiations, according to the Wall Street Journal.
"Citi Bike and its operator stand to get tens of millions of dollars to expand New York's popular bicycle-sharing program in a deal that could close within a week," reports Andrew Tangel.
"REQX Ventures, an affiliate of real-estate giant Related Cos., is close to hammering out an agreement that could enlarge the footprint of Citi Bike to upper Manhattan, into Queens and further into Brooklyn over the next few years, these people said. The number of bikes would nearly double, from 6,200 to about 12,000."
Tangel also states that the additional infrastructure would make it easier for U.S. Alta, which runs Citi Bike, to raise the price of annual memberships to the bike share program. Membership could rise to $140, speculates Tangel.
FULL STORY: Citi Bike Poised for a Big Infusion of Cash
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Delivering for America Plan Will Downgrade Mail Service in at Least 49.5 Percent of Zip Codes
Republican and Democrat lawmakers criticize the plan for its disproportionate negative impact on rural communities.
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Balancing Bombs and Butterflies: How the National Guard Protects a Rare Species
The National Guard at Fort Indiantown Gap uses GIS technology and land management strategies to balance military training with conservation efforts, ensuring the survival of the rare eastern regal fritillary butterfly.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
EMC Planning Group, Inc.
Planetizen
Planetizen
Mpact (formerly Rail~Volution)
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research
NYU Wagner Graduate School of Public Service