Now Arriving: A Passenger-Train Revival?

July 5, 2014

The large cities that dot Florida’s east coast were developed largely thanks to industrialist Henry Flagler, who in the late 19th century built a private railroad from Jacksonville to Miami, then profited by creating hotels and other properties that fed off the pipeline of travelers.

Now, more than a century later, a company that is a descendant of Mr. Flagler’s empire is aiming to repeat history.

In the most notable attempt to revive private intercity passenger-rail service in at least four decades, freight-rail company Florida East Coast Industries—owned by Fortress Investment Group LLC-managed funds—is planning to start construction in coming weeks on a $2.3 billion passenger-train line it is calling All Aboard Florida…

FECI’s ambitions, however, are larger than just linking Florida’s international-business and beach city to its family tourist destination: It wants to profit from real estate, too…

Rest of the story in the Wall Street Journal, 4 July 2014

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