Tuesday, August 09, 2005

Transportation hub financing secured. And the gain is ZERO

Transportation hub financing secured - 2005-08-08 Financing has been secured for a transportation hub in Downtown Pittsburgh that will house a parking garage, a Greyhound depot and light rail station, officials said Monday.

But.... Did anyone look next door? There is a Rail Road station and a T-stop (light rail) already there. We had a bus depot and a parking garage. So, the net gain is ZERO.

We don't get new apartments or condos. We don't get a new RED LIGHT THEATER nor a HISPANIC CULTURAL Museum. We don't get a new speed skating oval nor racketball courts. We don't get a new grocery store nor upscale pickle and candy-rama either.

We get ZERO as a net gain.

This is a great example of CHURN. We are moving a couple of stations a few stops away.

We don't even get a new escalator nor COPS (community oriented police station) station.

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