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📅 Today's Story: Amtrak announced its strongest fiscal year ever, reporting record ridership and ticket revenue in FY25, fueled by service upgrades, major investments, and new routes, including the debut of the high-speed NextGen Acela.
📝 Editor's Note: Happy Thanksgiving! 🦃 Enjoy those turkeys with gratitude (we know we will). As always, thanks for reading Urbanize. See you in the next weekly round-up.
TRANSPORTATION
Amtrak Hits Record Highs in Ridership and Revenue |
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📰 What Happened: For FY25 ending September 30, Amtrak carried 34.5 million passengers (up 5.1% YoY) and reached $2.7 billion in adjusted ticket revenue, both all-time highs. Operating revenue climbed 9% to $3.9 billion, while losses narrowed 15.1% to $598.4 million, keeping Amtrak on track for profitability by FY28.
🔍 A Closer Look: Key FY25 milestones included launching the Mardi Gras route along the Gulf Coast and introducing the faster, modernized Acela on the Northeast Corridor, which served 60,000 riders in its first month. Amtrak also invested a record $5.5 billion (up 24%) in capital improvements and state-of-good-repair projects across the network.
🧠 Why It Matters: Amtrak’s banner year highlights the growing role of passenger rail in U.S. transportation. With ongoing investments, improved service quality, and expanding routes, the railroad is positioning itself as a viable, climate-friendly alternative to car and air travel—especially in high-demand regional corridors.
| South LoopFoundation permit issued for hotel development at 424 S. WabashThe Marriott Tribute Hotel will stand 23 stories tall with 340 hotel rooms |
| EdgewaterPlan Commission approves LPO for 6150 N. SheridanThe planned five-story building will have 40 units and parking |
| Beverly HillsChecking in on the sprawling One Beverly Hills developmentThe project is set to open in phases starting in 2027 |
| Mid-CityAffordable housing coming to 5110 Washington Blvd. in Mid-CityPlans call for six-story, 124-unit apartment complex |
| Los Feliz17 apartments planned at 1900 N. Rodney Drive in Los FelizA corner lot on the north side of Franklin Avenue |