Skip to Content
Streetsblog USA home
Streetsblog USA home
Log In
Bike Sharing

Sources: Alta Buyout a Done Deal; New York Citi Bike Fleet to Double

The REQX Alta purchase bodes well for bike-share in NYC and beyond. Photo: Brad Aaron
The REQX purchase of Alta bodes well for bike-share in NYC and beyond. Photo: Brad Aaron
false

The buyout of Alta Bicycle Share rumored since July is finally a done deal. Alta -- which operates New York's Citi Bike, Washington, DC's Capital Bikeshare, Chicago's Divvy, and several other cities' systems -- will be purchased by REQX Ventures, an affiliate of the Related Companies and its Equinox unit.

The injection of capital from REQX is expected to help resolve lingering problems with Citi Bike's supply chain, software system, and operations, which until now have prevented any expansion of the bike-share network.

The sale was reported Friday by Capital New York's Dana Rubinstein, and Streetsblog has confirmation from two people with knowledge of the deal.

Rubinstein reported that REQX plans to double the size of the Citi Bike fleet to 12,000 bikes. Annual membership prices are expected to increase about 50 percent.

New management and an infusion of funds from REQX bodes well for all Alta bike-share programs over the next year after a stagnant 2014. Alta's supply chain troubles have hampered system expansions in Chicago, DC, Boston, and San Francisco, among other cities.

Stay in touch

Sign up for our free newsletter

More from Streetsblog USA

Friday’s Headlines Got DOGE’d Again

Amidst uncertainty about future federal funding, Amtrak is cutting $100 million and 450 jobs.

May 9, 2025

Friday Video: Where Was the First Public Bus Route in the World?

...and which surprising historical figure helped launch it?

May 9, 2025

Talking Headways Podcast: ‘Normal’ is Not Correct, Someone Died Here

After a crash, the debris is quickly cleaned up and everyone moves on (usually too quickly). But these two experts are asking us to all slow down.

May 8, 2025

Thursday’s Headlines Are Not Gonna Pay a Lot for This Truck

President Trump's tariffs, along with rising insurance costs, are driving down Americans' interest in owning a car.

May 8, 2025

How One Suburb is Using Transit to Transform Into a True City

A Washington State suburb may be poised to evolve into a true transit-oriented hub – and offer lessons for other bedroom communities, even during an anti-transit era.

May 8, 2025
See all posts