'Charlotte City Council Considers $91M Investment In Red Line Commuter Train; Charlotte City Staff On Monday Unveiled A $74M Plan To Buy 22 Miles Of Railroad Tracks From Norfolk Southern To Expand Transit Options In Mecklenburg County; City Would Spend An Additional $17M To Buy 1.6 Acres In Uptown Charlotte For A Proposed Gateway Station Near Graham Street' - Qcity Metro
Portfolio Pulse from Benzinga Newsdesk
Charlotte City Council is considering a $91 million investment in the Red Line commuter train, which includes a $74 million plan to purchase 22 miles of railroad tracks from Norfolk Southern and an additional $17 million for land in Uptown Charlotte for a proposed Gateway Station.
August 27, 2024 | 9:15 pm
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Norfolk Southern is involved in a potential $74 million deal with Charlotte City Council for the sale of 22 miles of railroad tracks, which could impact its asset portfolio.
The potential sale of 22 miles of railroad tracks to Charlotte City Council for $74 million could positively impact Norfolk Southern's financials by liquidating assets and providing capital. This deal is significant for Norfolk Southern as it involves a substantial asset transaction.
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