Second Avenue subway costs higher than expected

03/21/2007 | New York Times (tiered subscription model), The

Rising real estate prices mean the New York Metropolitan Transportation Authority will pay $54 million more than expected to buy five Upper East Side buildings and portions of others for the construction of the new Second Avenue subway. While long-time residents hope the MTA will run out of money before it hits their neighborhood, officials said the rising costs would not endanger the $3.83 billion project.

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