NEW YORK — The Metropolitan Transportation Authority has entered into a contract with a joint venture of Related Companies and new partner Oxford Properties Group for the development of the MTA’s Hudson Yards into a mixed-use community that will include 12 million square feet of commercial and residential development.
WASHINGTON — The Association of American Railroads (AAR) reported that intermodal volume on U.S. freight railroads for the week ended May 15, 2010, reached its highest level since the 47th week of 2008. Carloadings last week also saw gains, with 18 of 19 commodity groups showing increases from the comparable week in 2009.
NEW YORK — The Metropolitan Transportation Authority (MTA) earlier this month launched the tunnel boring machine that will dig the first phase of the Second Avenue Subway. The 485-ton, 450-foot-long machine will dig through approximately 50 feet of Manhattan bedrock per day as it completes two runs from 92nd Street to 63rd Street by November 2011.