Meanwhile, the 47 Muni bus that connects the Van Ness transit corridor to Caltrain has been “suspended” since 2020, and the extension of Caltrain to the transit center is still unfunded.
I appreciate solutions that meet us where we are, but it’s depressing that we don’t seem to actually have the will to make a sustainable, integrated mass transit plan.
Yes, but public transit does create value - the question is who captures it.
BART likely created huge profits for people who owned land in the areas it services - house prices and rents would have increased substantially. Public investment, private profits. Subsidies in the form of low-cost fares like this are just further welfare for the landowners.
Interestingly, about a third of BART's cost was acquiring land - if/when that same land is cleared and sold on market, the project would have operated at an enormous profit. Certainly, BART's current assets would far exceed 'total fares collected'.
dcrazy · · focus · HN ↗
I appreciate solutions that meet us where we are, but it’s depressing that we don’t seem to actually have the will to make a sustainable, integrated mass transit plan.
tristanj · · focus · HN ↗
For comparison, federal spending for the interstate highway system is about 2-3 cents per passenger mile.
skew-aberration · · focus · HN ↗
BART likely created huge profits for people who owned land in the areas it services - house prices and rents would have increased substantially. Public investment, private profits. Subsidies in the form of low-cost fares like this are just further welfare for the landowners.
Interestingly, about a third of BART's cost was acquiring land - if/when that same land is cleared and sold on market, the project would have operated at an enormous profit. Certainly, BART's current assets would far exceed 'total fares collected'.
idbnstra · · focus · HN ↗