Congestion pricing won’t stall real estate

From the October issue: If developed and passed by the City Council and then the Legislature by March 2008, a three-year congestion pricing pilot project could be under way by December 2008. The carrot is $354 million of funding from the federal Department of Transportation, which would go to New York City to help improve bus service to absorb additional commuters. In interviews with The Real Deal, most commercial and residential real estate brokers, public policy experts, transportation advocates and business industry representatives said they expected any reduction in car traffic to benefit the real estate industry, not harm it.