Cities embrace ‘transit hubs’ to boost business, jobs

Are transit hubs the new malls? Several major nerve centers of U.S. transportation—like Union Station in Washington, D.C., and Penn Station in New York City—are planning major overhauls that would transform them from pass-through structures into glittering corridors of restaurants, retail, and event spaces. Meanwhile, expanding local rail systems around the country are also sparking the development of new transit hubs, trying to take advantage of built-in foot traffic to boost business and job markets.

"[Transit hubs are] a way to [achieve] balance and attract people during off hours and use the structures that exist, which are an attraction in themselves," real estate attorney B.A. Spignardo of Shapiro Lifschitz & Schram in Washington, DC tells Construction Dive.

The Santiago Calatrava-designed Oculus hub in lower Manhattan is a prime example of this next-gen transit center trend. The striking architecture just might entice travelers to stick around and peruse its 75,000 square feet of retail—unlike the cramped, underground labyrinth of Penn Station. But Penn Station has its own ambitious renovation in the works, including the integration of the more architecturally impressive Farley Post Office along with 112,000 square feet of retail.

Amtrak is a planning a $50 million new concourse for DC’s Union Station topped by roughly 3 million square feet of residential, retail, and commercial space. Philadelphia’s 30th Street station will get a $6.5-billion, Atlantic-Yards-like, mixed-use development over its rail yards. Check out the full story here.

Via: Construction Dive