Morgan Stanley and National Equity Fund (NEF) are establishing a $100 million fund to support the long-term preservation of affordable housing within a one-mile radius of Metropolitan Atlanta Rapid Transit Authority (MARTA) rail stations, MARTA reported. It will help boost the agency’s transit-oriented development (TOD) program.
Fitch Ratings has placed the ratings of five large U.S. public transit agencies on “Rating Watch Negative.” Fitch said it “expects widespread and sharp declines in transit ridership and fare revenues to create significant near-term stress in the U.S. public transit sector with the [agencies] identified here at the greatest risk. Some transit agencies in major urban areas that have already been impacted by the pandemic are reporting ridership declines of as much as 70% to 90% amid efforts at social distancing, a widespread shift to telecommuting and shelter-in-place orders.”
MARTA (Metropolitan Atlanta Rapid Transit Authority) has awarded Stadler Rail a contract to supply 127 two-car rapid transit (metro) trainsets with options for up to 50 additional sets.
Light rail leads $2.7 billion in expansion projects unanimously approved by Atlanta’s MARTA board of directors.
The New York Metropolitan Transportation Authority (MTA) has appointed veteran railway engineering professional Arthur R. “Rob” Troup as Senior Program Executive of the MTA Long Island Rail Road East Side Access (ESA) project. MTA Chief Development Officer Janno Lieber announced Troup’s appointment on Sept. 24.
Three more states won’t have to worry about the Federal Transit Administration withholding transportation funding.
MARTA, Atlanta’s transit operator, plans to replace its entire railcar fleet, the single biggest item on its to-do list in 2018.
Cubic Corp. announced that its Cubic Transportation Systems (CTS) business division was awarded a $6.5-million contract from the Metropolitan Atlanta Rapid Transit Authority (MARTA) to migrate the Cubic-operated back office system for the Breeze Card to the cloud.
The Metropolitan Atlanta Rapid Transit Authority (MARTA) has awarded Kapsch TrafficCom AG, whose U.S. operation is based in McLean, Va., a contract worth approximately $11 million for a turnkey regional Mobile Ticketing System (MTS) that will allow MARTA riders to order, pay, and electronically validate tickets using their mobile smart devices via a mobile app as well as directly through the mobile ticketing website.
The Metropolitan Atlanta Rapid Transit Authority is adding trains to accommodate an expected surge in riders after a fire destroyed a heavily-traveled segment of Interstate 85.