The cost of the Second Avenue Subway extension to East Harlem has ballooned to $7.7 billion, an $800 million increase from previous estimates.
Donate NowThe cost of the Second Avenue Subway extension to East Harlem has ballooned to $7.7 billion, an $800 million increase from previous estimates, according to documents published on Thursday by the Federal Transit Administration.
The new price tag includes interest payments on debt the MTA expects to take out to build the subway extension. The feds reported the previous price tag at $6.9 billion, but the MTA reported the number at $6.3 billion, a figure that did not include debt financing costs. Eric Goldwyn, who helped lead the study, said “inflation fears could explain the increase” in the project’s price tag.
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