Media Kit » Try RailPrime™ Today! »
Progressive Railroading
Newsletter Sign Up
Stay updated on news, articles and information for the rail industry



This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.




railPrime
View Current Digital Issue »


RAIL EMPLOYMENT & NOTICES



Rail News Home Rail Industry Trends

1/18/2006



Rail News: Rail Industry Trends

CPR sells part of spur to British Columbia city


advertisement


Canadian Pacific Railway recently reached an agreement with Richmond, British Columbia, to sell the west leg of the Van Horne Spur to the city. Richmond will acquire the rail corridor and about 13 acres for $12.2 million in cash and future payments exceeding $6 million to cover the value of the rail and other track materials.

During the next six weeks, CPR will remove track so the city can begin realigning an adjacent road. Richmond officials plan to use the rail right of way and land to build North Loop Road, a four-lane highway designed to improve traffic flow through the downtown area and replace River Road as the city’s primary cross-town bypass. CPR will continue to operate portions of the spur as a private siding until 2010.

“We are pleased to have been able to support the city in its long-term planning initiatives and its participation in the 2010 Winter Olympics,” said CPR President Fred Green in a prepared statement.


Contact Progressive Railroading editorial staff.

More News from 1/18/2006