Skip to Content
Streetsblog USA home
Streetsblog USA home
Log In
Bicycling

The Citi Bike Deal Is Great News for Other Cities Too

Bay Area Bike-Share, shown here in San Jose, is one of several systems that should be able to fulfill expansion plans quicker after REQX Ventures acquires a controlling stake in Alta Bicycle Share. Photo: Richard Masoner/Flickr

Andrew Tangel at the Wall Street Journal had an encouraging update this week on the Citi Bike buyout plan first reported by Dana Rubinstein in Capital New York. It looks like the city is days away from announcing a deal in which REQX Ventures, an affiliate of the Related Companies and its Equinox unit, will buy out Alta Bicycle Share, the company that operates Citi Bike. The implications are big -- not just for bike-share in New York, but for several other major American cities as well.

REQX would acquire a majority stake in Alta Bicycle Share, bringing new management and a much deeper reservoir of financial resources to the company. Vexing problems with Citi Bike's operations, software, and bike supply chain are expected to be addressed, though it's not clear yet where the next round of bikes will come from.

For New York, the terms of the deal mean the price of Citi Bike annual memberships will rise from $95 to the $140 range, while the service area will expand substantially. A source familiar with the situation said the plan is to get new stations operating by next spring. The larger service area could reach as far north as 145th Street, according to the source, while extending into western Queens as well as a ring of Brooklyn neighborhoods around the current boundaries.

One aspect of the news that hasn't been getting much notice is that several other bike-share systems will also be affected. As Payton Chung noted last week, Alta-operated systems in Chicago, DC, Boston, and San Francisco have all been hamstrung by bike supply problems the company had been unable to solve. The buyout should break the logjam holding back expansion plans in those cities and allow system launches in Baltimore, Portland, and Vancouver to progress.

The last two years have been simultaneously thrilling and frustrating for American bike-share, with rapid adoption in major cities accompanied by performance glitches and long waits for system expansions. The outlook for 2015 seems a lot sunnier.

Stay in touch

Sign up for our free newsletter

More from Streetsblog USA

Friday’s Headlines Go Back to the Future

If you liked the first Trump administration's transportation policies, you're going to love the second Trump administration's transportation policies.

July 19, 2024

Advocates Share What It Takes to Fight Highway Expansions in Court 

What does it take to sue your state DOT? Time, money, the right partners, and a little creativity, a recent survey of activists found.

July 19, 2024

Friday Video: Paris Does it Again

Come for the bike-friendly streets, but stay for adopt-a-tree program and all the car-free school roadways.

July 19, 2024

Talking Headways Podcast: IrrePLACEable

Kevin Kelley on his book Irreplaceable: How to Create Extraordinary Places that Bring People Together, and the future of downtowns.

July 18, 2024

This Heat Wave is a Car Dependency Problem

Our quickly warming planet has a unique impact on people who don't or can't drive — and we need policy action to protect their health.

July 18, 2024
See all posts