New York City’s bike share program, Citibike, announced today plans to double in size by 2017.

The announcement comes shortly following news that Citibike owner Alta Bicycle Share would be acquired by Bikeshare Holdings, a newly formed venture that includes the CEOs of Equinox . Alta, which operates programs throughout the U.S. and abroad, will move its headquarters from Portland, Oregon, to New York City, and will be led by experienced transportation executive Jay Walder.

Citibike, already the largest in the nation, plans to grows its bike inventory from 6,000 to 12,000 and docking stations from 330 to more than 705. This will bring docking stations from Manhattan and parts of Brooklyn into Long Island City, northern Williamsburg, Greenpoint, and further into Bedford-Stuyvesant in Brooklyn.

The additions exceed the program’s initial plans for expansion that projected 10,000 bikes and 600 docks throughout Manhattan, Brooklyn and Queens.

The following map from the Citibike Tumblr blog highlights where expansion will take place starting in 2015:

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The program also announced a change in its membership offerings. The annual membership rate will increase from $95 per year to $149 per year, although current members may still renew at the current price.

Although more expensive, it might also give the program the resources to fix broken docks, worn-out seats, and faulty payment terminals that most riders have dealt with.

The program reports that bikes are ridden an average of six times per day during peak season.

Tags: citibike, nyc
Photo Credit: Mayor Michael R. Bloomberg and Department of Transportation Commissioner Janette Sadik-Khan launched Citi Bike, the nation's largest bike share system, with 6,000 bikes available at more than 300 stations on May 27, 2013. DOT / Flickr