Live Feeds
● LIVE Updated 2d ago · 19 sources tracked

Final design for NYC Penn Station's redevelopment one step closer -- including how much it could cost

Amtrak and the joint venture Penn Transformation Partners have signed a legally binding contract to finalize the design and budget for New York Penn Station. The project aims to transform the transit hub into a world-class station with groundbreaking scheduled by the end of 2027. The agreement establishes a framework for a public-private partnership to determine a firm, fixed price for the work.

RSS Source map (18)

What changed

Amtrak and Penn Transformation Partners finalized a Pre-Development Agreement to advance the station's design and cost estimates.

Live updates

  1. Amtrak and Penn Transformation Partners Sign Pre-Development Agreement

    Amtrak and the joint venture Penn Transformation Partners have signed a legally binding contract to finalize the design and budget for New York Penn Station. The project aims to transform the transit hub into a world-class station with groundbreaking scheduled by the end of 2027. The agreement establishes a framework for a public-private partnership to determine a firm, fixed price for the work.

    What's confirmed:

    • Amtrak and Penn Transformation Partners signed a Pre-Development Agreement to finalize the project design and budget.
    • Penn Transformation Partners is a joint venture led by Halmar and Skanska.
    • The redevelopment project is estimated to cost between $7 billion and $8 billion.
    • Construction is scheduled to break ground by the end of 2027.
    • Andy Byford is leading the effort as a Special Advisor for Amtrak.
    confidence 100%