200 of the 240 miles are already in place and used by the FEC for freight service.
Many of the cities already have existing stations still remaining in their downtown cores from the time when FEC ran passenger trains (they stopped in 1968). The last 40 miles appear to be state owned ROW in the middle of the Beach Line Expressway, which would connect the FEC directly with Orlando International Airport and Sunrail (now under construction). We're all waiting for more detail but I wouldn't be surprised if the plan calls for the State to let them use the ROW that had been reserved for the HSR project Rick Scott killed last year.
Also, FECI has a real estate development arm called Flagler Development.
Quote:
BIRTH OF A LEGACY
Our company was founded in 1892 by Henry M. Flagler, an American pioneer who played a key role in Florida’s development.
It was Henry who recognized Florida’s potential. He developed dozens of resorts along Florida’s east coast and his Florida East Coast Railway system to transport visitors. His rail line stretched 351 miles from Jacksonville to Miami. This essential infrastructure led to and supported the major agricultural and commercial boom that took place in Florida in the early 1900s.
While expanding his railroad, Henry amassed a significant portfolio of Florida land, which laid the foundation for our real estate company. Throughout the nineties, Florida East Coast Industries—the holding company for the railroad and Henry’s land portfolio—grew into one of Florida’s commercial real estate leaders with 55 office and industrial buildings and 19,000 acres of land in Jacksonville, Orlando, Fort Lauderdale and Miami.
WE ARE THE LEGACY
In 2007, Florida East Coast Industries was purchased by Fortress Investment Group. Shortly thereafter, Fortress separated the railroad and real estate subsidiaries into two separate companies—Flagler and Florida East Coast Railway—so each could focus on its primary line of business.
Today, Flagler is positioned as a private real estate investment trust (REIT) and is recognized as Florida’s most trusted and proven full-service commercial real estate company.
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http://www.flaglerdev.com/
They operate somewhat different from larger companies like CSX. Don't be surprised if opening additional land up to TOD and industrial development is a part of their long term strategy.