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May 24, 2013- The Bikes are being inserted into the racks today, for use tomorrow.
May 7, 2013- The actual bicycles will be loaded and ready for use on Memorial Day.
April 30, 2013- Crain’s is reporting that the Citi Bike Share program will bring 170 new jobs and $36 Million in local economic activity. Full story here.
April 17, 2013- The Citi Bike Share unites are being installed on West Thames right now, and the bicycles will arrive “later this Spring”. A second bike station will go in by Gateway Plaza later, but discussions are still underway.
For a $90 annual membership, riders can take a bike anywhere for up to 45 minutes. The time limit is meant to discourage long treks and to maximize turnover and sharing. GPS-protected devices in the bikes, charged by peddle power, and the fact that there is little street value in the bikes, will deter theft.
Related, the CB1 and DOT are currently assessing options for West Thames to reduce the dangerous car traffic, and ugly concrete planters in the median were an option. The bikes seem to be a better solution.
The demographic of the riders will mean that more business will arrive for areas surrounding the bike stations. For example, DJ Knight realty will have more potential apartment buyers in front of their store front on West Thames.
Any update on gateway electric situation? Our rents will skyrocket based on owners heating oil costs. however gateway does not provide electric like other stabilized buildings which means we should be exempt from stabilization boards new increases based on that factor.