The Upper East Side has long been famous for its expensive and luxurious homes. Not much has changed there in past years until recently. The biggest change occurring on the Upper East Side is its construction of the Second Avenue subway line. The completion of this project will mark the first major expansion of the New York City subway system in 50 years. Plans for the Second Avenue subway date all the way back to 1929. The extension of the subway line is predicted to be completed by December 2016.
Phase one of the project will extend the Q Train from 57th Street and 7th Avenue across town to 96th Street and Second Avenue. Phase one is about two thirds complete and calls for three brand new stations at 72nd, 86th, and 96th Streets. It will transport about 200,000 riders daily. The next phase of MTA’s Second Avenue subway line is expected to begin construction soon.
According to Chairman Thomas Prendergast, testifying for a state Assembly committee, the second phase of the extension will be included in the MTA’s five-year capital plan when it is presented to the board next month. The plan will run from 2015-2019. Once the entire project is completed, the Q Train will run northward to 125th Street in East Harlem, while a new T Train will run from 125th Street to Hanover Square in Lower Manhattan.
The key to this extensive project is alleviate the overcrowding on the numbers 4, 5, and 6 lines along Lexington Avenue. Although a hassle to Upper East Siders throughout the duration of the construction, it will prove to be extremely beneficial once it is finished. After the completion of this project, there will be a more direct and simpler way to navigate throughout the Upper East Side which is good news to all.
Along with providing a more convenient lifestyle to New Yorkers, this project is proving to up the rates and the appeal of Upper East Side homes. According to the statistics from City Realty, the apartment price in the Upper East Side was at $1,517 per square foot in December of 2013, and currently is it $1,683 per square foot. As this project nears its completion, you can expect a continuation of major price increases for property along Second Avenue.