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Amtrak Considers Selling Real Estate for Development

Amtrak will consider selling or leasing real estate it owns in New York, Washington, Baltimore, Chicago and Philadelphia as part of a plan to raise money, the U.S. passenger rail operator’s chairman said.

The intercity railroad needs funds to keep up with a system that has seen record ridership, Chairman Anthony Coscia said during a panel discussion at a Manhattan conference sponsored by the Urban Land Institute. Among the sites under review is Sunnyside Yard in western Queens, which is used by Amtrak, the Long Island Rail Road and New Jersey Transit.