After years of delays and dashed hopes of development, the plan to extend Penn Station into the Farley Post Office across the street might finallyâ€”possiblyâ€”be on track. According to The Wall Street Journal, â€œEmpire State Development Corp., the state economic-development agency, is looking for a broker to sell 1.5 million square feet of unused real-estate-development rights attached to the property.â€
The hundreds of millions that this could generate would go towards transforming the Post Office into Moynihan Station. The new space would include a grand waiting area for Amtrak inside the building’s main hall. While no concrete plan or timeline is in place, the stateâ€™s request could provide significant funds to kick-start construction. Key word: Could.
Construction on the two-track Gateway project, a new tunnel between New Jersey and Manhattan, will commence this summer beneath Related Companyâ€™sÂ Hudson Yards redevelopment site. Related Companies and Amtrak will build this 800-foot-long â€œbox tunnel,â€ which will first serve as a shell for Amtrakâ€™s rail connection linking the Hudson tunnel to Penn Stationâ€™s tracks, and,Â eventually, to the proposed Moynihan Station. The actual Amtrak Gateway Project is still years away, but construction on this first leg of the tunnel is happening now to coordinate with construction on Manhattan’s West Side. The project will be funded by the federal government including some funding from the Hurricane Sandy relief package meant to help mitigate flooding during future storms. It’s estimated to cost between $120 and $150 million.
On Wednesday, right on deadline, the U.S. Department of Transportation announced the winners of its Transportation Investment Generating Economic Recovery (TIGER) Grant winners. Out of 1,400 applications totaling $60 billion in requests, the agency awarded $1.5 billion in American Recovery and Reinvestment Act money to 51 transportation projects in 41 states. The projects ranged in scale from bike paths to major bridges and freight rail installations and the grants ranged in size from $3 million to $105 million. Priority was given to projects that needed federal funds in order to complete their funding package and to projects that are expected to be completed within three years. In New York, the DOT awarded $83 million to the first phase of Moynihan Station. This bit of good news for the project, which has been mired for years in funding difficulties, was bolstered yesterday when Amtrak reaffirmed its intentions to move its operations into the proposed station.