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Rail News: Rail Industry Trends

North Carolina Railroad to redevelop 13 stations to create revenue stream

During the next four years, the North Carolina Railroad Co. (NCRR) plans to spend $8 million to renovate, relocate or redevelop 13 former rail stations between Kannapolis and Morehead City. The NCRR-owned properties would become a source of income, which the railroad would use to help fund track upgrades and maintenance.

NCRR plans to relocate a former baggage depot in Morehead City — which is situated on a downtown waterfront site — to attract a retail or hotel development. The city of New Bern recently received $100,000 from the North Carolina Department of Transportation to help fund renovations to a former station to create retail or office lease space. The railroad would provide funds for the project.

NCRR owns and manages a 317-mile Morehead City-to-Charlotte rail corridor over which Norfolk Southern Railway and Amtrak daily operate more than 60 freight and eight passenger trains, respectively.

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More News from 1/21/2005