NEW YORK CITY-According to a report by the Regional Plan Association, the $8.7 billion rail tunnel being built for the NJ Transit could raise the prices of property in the vicinity of the transit stations. The report states that the average rise would be of about $19,000, while those houses within a mile from the stations can expect a rise of $29,000.
Work on the tunnel between Manhattan and New Jersey is expected to be completed by 2018. For the full story, go to Wall Street Journal.
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