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All Aboard Florida to spend $29 mill on West Palm Beach station

All Aboard Florida expects to spend $29 million on the construction of its West Palm Beach station, according to private documents tied to a risky bond sale last week.

The cost is the cheapest of the express passenger rail lines’ three stations, with Fort Lauderdale’s price tag at $30 million and Miami costing a whopping $150 million.

The bond documents, first reviewed by TC Palm, but now also obtained by The Palm Beach Post, include ridership estimates and ticket prices that All Aboard Florida has sued to keep from being released as public information.
The one-hour trip from Miami to West Palm Beach will cost a coach passenger $30 during the first year of service. A business class customer will pay $36.60.

A Fort Lauderdale to West Palm Beach coach ticket will cost $20, with a business class ticket for the same stretch costing $24.40.

All Aboard Florida expects to begin running 32 trains per day on the FEC tracks in 2016. The bond prospectus says construction will begin as soon as the successful offering is finalized, which occurred Thursday. The bond carries a 12 percent interest rate, something analysts said investors would expect for a such a unique project.

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http://realtime.blog.palmbeachpost.c...beach-station/