Rising Costs Push Back NYC Transit Megaprojects
Rising construction costs have caused New York City's transit agency to push back the dates of several major transit projects.
The Metropolitan Transportation Authority says the first leg of a subway planned for decades on Manhattan's East Side will be put off until 2015; so will the connection of some Long Island Rail Road lines from Queens to Grand Central Terminal.
A renovated downtown Manhattan subway station will open next year -- a year later than planned -- and there is no completion date for a planned transit hub near ground zero.
The MTA said Wednesday that delaying some completion dates would allow it to save money by signing smaller contracts for the job. It also added $1.5 billion to the cost estimates for the expansion projects, saying the cost of materials have skyrocketed.