FTA rating leaves Gateway project ineligible for federal funding

New York /
Mar.March 19, 2019 02:31 PM

The Gateway Development Corporation, currently overseeing the estimated $12.7 billion construction of additional tunnels, maintenance and ridership expansion between Newark Penn Station and its Penn Station counterpart in Manhattan, had a significant setback last week when it was omitted from the 2020 federal budget, NJBiz reported. According to an analysis by Bloomberg, the proposed tunnels and other upgrades, collectively known as the Gateway Program, received a low-priority rating from the Federal Transit Administration leading to its omission from the budget. Former President Barack Obama promised matching funds towards the repairs and upgrades proposed by the development corporation after Superstorm Sandy in 2012. In 2017, the Gateway Program made significant strides when former New Jersey Gov. Chris Christie and current New York Gov. Andrew Cuomo agreed to commit a combined $5.55 billion toward the construction of a portal bridge in Kearny and a new tunnel, the latter a key cog in the Amtrak-owned Northeast Corridor. But bureaucratic infighting and the Trump administration’s skepticism about the commuter project have kept it in a holding pattern. Cuomo’s office released a statement on March 19 criticizing the Trump administration’s lack of support for the Gateway Program. In a press conference, Cuomo called the decision “political retaliation” by Trump against regions that did not support his bid for the presidency. [NJBiz]


Related Articles

arrow_forward_ios
NJ construction official accused of siphoning funds from developers’ account
NJ construction official accused of siphoning funds from developers’ account
NJ construction official accused of siphoning funds from developers’ account
Fiserv CEO Frank Bisignano (Getty, Wikimedia)
Fintech firm Fiserv expanding into NJ with new office
Fintech firm Fiserv expanding into NJ with new office
614 Hudson Street in Hoboken, NJ (Redfin)
19th Century townhouse in Hoboken listed for $7M
19th Century townhouse in Hoboken listed for $7M
Gov. Phil Murphy (Getty, iStock)
Garden State seeks to go green, enables C-PACE
Garden State seeks to go green, enables C-PACE
American Dream Mall (Getty)
NJ Transit eyes new service to American Dream mall
NJ Transit eyes new service to American Dream mall
83 North Woodland Street in Englewood, NJ Michelle Paid Group (Signature Realty/Michelle Pais Group)
Once asking $39M, NJ estate finally sells for 88% discount
Once asking $39M, NJ estate finally sells for 88% discount
MPG managing partner James Ashley Johnston and Reuten Associates managing partner Mike Reuten with a rendering of 231 and 239 Herbert Avenue in Closter, NJ (MPG, Reuten Associates)
200-unit luxury senior housing complex coming to Bergen County office park
200-unit luxury senior housing complex coming to Bergen County office park
New Jersey Governor Phil Murphy  (Getty)
Landlord group asks NJ Supreme Court to reverse security deposit ruling
Landlord group asks NJ Supreme Court to reverse security deposit ruling
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...