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12.03.26 - 03:21
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Hudson River NJ-NY Rail Tunnel Faces New Halt Without Federal Funds (ZeroHedge)
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Hudson River NJ-NY Rail Tunnel Faces New Halt Without Federal Funds
Construction on the planned $16 billion rail tunnel under the Hudson River could halt again within two to three months unless federal funding resumes, the project's developer warned last week, according to Bloomberg.
The project, led by the Gateway Development Commission, would build a new rail tunnel linking New Jersey and Manhattan for Amtrak and New Jersey Transit trains. It would also allow rehabilitation of the existing tunnel, which opened in 1910 and is in urgent need of repairs. Gateway says the broader project would expand rail capacity between the two states and generate about $19.6 billion in economic activity.
Funding for the project has been in dispute for months. The US Department of Transportation has withheld funds since October, prompting Gateway to sue last month to force the release of the money. New York and New Jersey filed a similar lawsuit.
Bloomberg writes that some payments resumed after a federal jud...
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11.03.26 - 20:18
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Weinstein ′Buying Pessimism′ With Discount Private Fund Bids (Bloomberg)
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Saba Capital Management's Boaz Weinstein began offering investors quick cash for their stakes in such vehicles run by Blue Owl Capital. Now he's making the same proposal to backers of a Starwood Capital Group real estate fund that has severely curtailed withdrawals for nearly two years. Loukia Gyftopoulou, Bloomberg reporter, joins Dani Burger on "Bloomberg Deals" to discuss the deal. (Source: Bloomberg)...
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