In 2008, plans for a second station on the No. 7 extension, at 41st Street and 10th Avenue, were cut due to funding shortfalls. Now, the Real Estate Board of New York (RENBY) is encouraging the Bloomberg Administration to reconsider a second station at the site.

A New York City Transit report finds that buses in Times Square have slowed as a result of the new pedestrian plaza project, an experiment launched by the Mayor last year and recently made permanent. According to the report, increased traffic congestion and longer routes have led to longer rides for bus passengers.

The Bank of America tower, located at 6th Avenue and 42nd Street, is the first office building to be awarded LEED Platinum status. The building's amenities include an "on-site cogeneration plant, ice storage system, 'high-performance glass curtain wall' and an 'advanced under-floor air delivery system.'"

The Long Island Rail Road site along the Hudson River will be redeveloped by the Related Companies, now that MTA has approved the $1 billion project. The Related Companies will pay $20 million upon closing the contract with MTA, and another $21.7m over the next year.

The United States Department of Transportation is looking into the Second Avenue Subway line, the Fulton Street Transit Center, the new PATH Terminal and the Long Island Rail Road extension to Grand Central for potential fiscal abuse or wrongdoings. All of these projects have exceeded their budgets and are taking longer than expected to complete. The evaluation should take ten months.

Members of Manhattan’s Community Board 5 voted overwhelmingly against plans that would allow a tower to be constructed at the site of the Hotel Pennsylvania. Vornado Realty Trust’s proposed tower would be the City’s third tallest building.

The engineering firm McKissack + Delcan released a report stating that construction for the No. 7 train line extension is surpassing its $2.1 billion budget. The size of the deficit has not been revealed and the city does not yet have a measure in place to address cost overruns.

Pleased with the outcome of the Times Square and Herald Square pedestrian plazas, the New York City Department of Transportation wants to introduce the concept to other areas throughout the city. Some neighborhoods under consideration are Borough Park, Brooklyn, Astoria, Queens and Murray Hill, among others. The city will review plaza proposals from non-profit organizations until June 30th, 2010.

Residents and developers on Manhattan’s West Side are pushing to reverse a decision by the Metropolitan Transportation Authority (MTA) to not build a subway station for the No. 7 line at 10th Avenue and 41th Street.

Developer The Related Companies and the Metropolitan Transportation Authority (MTA) have agreed to extend the March 31 deadline to sign a contract to develop the Hudson Railyards site. The new one month extension appears to be the result of delays in preparing legal documents related to the agreement.