Tag Archives: New Buffalo

Funding Amtrak from land rent

Real estate developer Jimmy Gierczyk spent $1.5 million to build a New Buffalo station for Amtrak.  It’s  adjacent to his real estate development.  The source article doesn’t give a lot of detail about the project, but notes that he can now more easily market his condos to Chicagoans. Who are accustomed to paying much higher prices than folks in New Buffalo, I’d guess.

All of which raises the question, why can’t Amtrak collect more of the location value it generates or preserves?