Penn Station Rebuild Finally Has a Master Developer

A vision for a reimagined Penn Station is finally coming into focus after Amtrak and the federal government selected the winning party to serve as master developer of the project.

Penn Transformation Partners emerged victorious in the contest to control the redevelopment, Gothamist reported. Other competitors included Grand Penn Partners, a team led by Macquarie Group and Penn Forward, led by Fengate.

Penn Transformation includes the likers of Halmar International, which is constructing the Second Avenue subway extension, and Steven Roth’s Vornado Realty Trust. Vornado has a vested interest in the revival of the transit hub, as it owns a significant portion of the land around the station.

The plan would see Penn Station become more spacious and include more light. The announcement heralds opportunities for more retailers and a more pleasant experience for commuters.

The exterior of Madison Square Garden would be revamped (and the “World’s Most Famous Arena” would not be relocated). Additionally, a glass entrance would be added on Eighth Avenue with the razing of the Theater at The Garden.

From a practical standpoint, there’s also hope for weary commuters with a plan to expand track capacity by allowing limited trains to “through-run” at the station, mitigating the need for the trains to stop at Penn and turn around.

“The days of Penn Station’s cramped hallways, broken infrastructure, and snarled rail lines are numbered,” Transportation Secretary Sean Duffy said in a statement.

The Federal Railroad Administration is expecting to spend $200 million on design and permitting work before the start of construction, which Donald Trump ordered to begin by the end of next year.

Ahead of the announcement, Duffy revealed during a Senate hearing that the administration would contribute $8 billion to the project. New York State has sworn off funding for the project since the Trump administration sidelined the Metropolitan Transportation Authority from spearheading the overhaul.

— Holden Walter-Warner