SEPTA Board Votes to Proceed with 70-Property Acquisition for King of Prussia Rail Line

  • 📰 NBCPhiladelphia
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 51%

Business News News

Business Business Latest News,Business Business Headlines

🚂 SEPTA's board of directors voted on Thursday to move forward with the acquisition of 70 sites to make way for its proposed King of Prussia Rail Line project. Here’s the latest from the estimated $2 billion project:

SEPTA's board of directors voted on Thursday to move forward with the acquisition of 70 sites to make way for its proposed King of Prussia Rail Line project, theThe 70 sites are located on or around the rail line's proposed path and would allow the transportation agency to build out the rail line itself, as well as associated train stations and parking facilities. The project is estimated to cost $2 billion.

The next step in the process includes appraising the properties, determining fair market value and making offers for the land. In a Final Environmental Impact Statement completed in January 2021, SEPTA said that 54 partial parcels and 13 full parcels were targets for permanent acquisition. Of those, nine were categorized as residential, 44 as commercial and 14 as"other."

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Absolute disgrace, SEPTA needs to worry about the current routes and riders, another tax payer subsidized money pit. And KOP is signing up for a junkie highway to the mall…

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 569. in BUSİNESS

Business Business Latest News, Business Business Headlines