Schumer calls for funds for Moynihan project

March 02, 2009 10:30AM

Senator Charles Schumer has called for $100 million in federal
stimulus money to convert the James A. Farley Post Office into an
annex to Penn Station, expanding the city’s transportation
infrastructure and employing more workers. The developers for the project,
Stephen Ross, CEO and founder of the Related Companies, and Steven
Roth, CEO of Vornado Realty Trust, were chosen nearly four years ago,
but the project has stalled due to lack of financing and other
problems. Schumer also asked the Port Authority of New York and New
Jersey to invest $1 billion in the project. The project could involve
relocating New Jersey Transit, the Long Island Rail Road or Amtrak out
of Penn Station and into the Farley building.

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