Green Light by NYC for $7 Billion Penn Station Redesign
The opportunity to transform Penn Station into world-class station has taken another major step forward. A contract for the redesign of the Midtown station that sees an estimated 650,000 daily commuters was approved by the Metropolitan Transportation Authority (MTA) in partnership with NJ Transit and Amtrak. The project which could cost New York City $7 billion includes a base contract valued at $57.9 million for preliminary design of the new station, improvements to nearby subway stations, and engineering support as station reconstruction moves forward. The full scope of the work includes replacement of the current station with a 250,000-square-foot, single-level facility that will house a new train hall, retail and dining options, improved ticketing and waiting areas, additional elevators and escalators, plus more station entrances and exits. In addition, the new facility will have an underground connection to the 34th Street-Herald Square subway station; a planned 30,000-square-foot public plaza outside the station; and construction of multiple high-rise residential towers that could create 1,800 residential units including 540 permanently affordable units. In line with the MTA’s mission to encourage the growth and development of certified Disadvantaged Business Enterprises (DBE), the MTA’s Department of Diversity and Civil Rights has assigned a 22.5 percent DBE goal to the contract.