Amtrak to pay $505 million to settle control of Washington Union Station

[marmar]

WASHINGTON — Amtrak has agreed to pay $505 million to gain control of Washington Union Station, the Washington Post reports.

The agreement, reached last week and subject to approval by a federal judge, will settle a lengthy battle over the passenger operator’s efforts to control the commercial space at the station. Amtrak had gained control through use of eminent domain last year, saying a private developer had not attended to the property during the pandemic. But real estate company Rexmark, which gained the property from New York developer Ben Ashkenazy in a 2022 foreclosure, charged Amtrak had illegally gained control after an unsuccessful purchase attempt.

The station is federally owned, but the commercial space has long been leased to private developers. A non-profit organization, the Union Station Redevelopment Corp., manages the property and is leading a $10 billion expansion effort; it said in a statement to the Post that it was pleased by the settlement, which would enable it to focus on “the going transformation of Union Station into a modern, world-class facility.”

Amtrak had said last July when it took over management of the station that it planned safety, security, and maintenance improvements, as well as additional seating for passengers and improved boarding procedures. On Monday, Amtrak posted images of three newly opened businesses and said a waiting area for ticketed passengers is now open. .................(more)

https://www.trains.com/trn/news-reviews/news-wire/amtrak-to-pay-505-million-to-settle-control-of-washington-union-station/