Charlotte officials are finally breaking ground on Gateway Station, the station that will restart passenger rail service to uptown. Don’t get too excited just yet though. These things take time. We probably won’t see the first train utilizing it for about four more years. Right now, think of it as the opportunity for an investment. Homes that will one day have access leading straight uptown are sure to increase in value when Gateway Station is finally up an running.
The first phase alone will cost between $70 million to $80 million. In part, it will be paid for by a $30 million federal grant and a pledge of $48.75 million from the N.C. Department of Transportation. The City of Charlotte intends to pitch in $33 million from its capital budget for the station.
We’re told that we should expect the passenger rail service to start up around 2024. So, hang in there! It’s coming!Request a free CMA (Comparative Market Analysis) today!
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