Earlier quoted context omitted.
throwing money at the NYC subway seems to have a generally great track record (albeit one featuring less efficiency than throwing money at other global subway systems). NYC could not function without it.
The 7 line extension cost over $3 billion dollars in 2023 terms to build 1.5 miles of track from Times Sq to Hudson Yards and build one new station there. I defy anyone to conclude this represented good value.
Ideally the increase in property value should be captured by the public who made the investment - self funding effectively. But that's just the old LVT argument.