Brooklyn-Queens Expressway Value Capture Analysis

Rehabilitation or replacement of a 1.5-mile section of the Brooklyn-Queens Expressway between Atlantic Avenue and Sands Street in New York City will encompass multiple bridge structures, ramps, and retaining walls, and the historic half-mile “triple cantilever.” AKRF prepared a value capture analysis on behalf of the New York City Department of Transportation to assess value creation opportunities associated with selling or removing the asset, property taxes from new development, incremental tax revenues in adjacent neighborhoods, and economic development benefits. We evaluated risks, developed and applied financial models, and identified potential funding tools. The final report included our approach, methodology, and findings. Additionally, AKRF is currently leading environmental review pursuant to the guidelines of CEQR, SEQRA, and NEPA.