Governor Andrew Cuomo has announced that construction will begin on New York’s new Moynihan station following the closure of a deal for the Pennsylvania Station-Farley Complex redevelopment.
The agreement between financiers Empire State Development and Related Companies, Vornado Realty and Skanska USA means that work will commence to transform part of the James Farley Post Office into a 255,000 square foot facility for Long Island Railroad and Amtrak passengers.
The total $1.6 billion project is being funded with $550 million from the state, $420 million from Amtrak, the MTA, the Port Authority and federal grants, and $630 million from the joint venture developers.
The new station will feature nine platforms, 17 tracks and a 92-foot (28-metre) high skylight to be built above the building’s historic steel trusses.
It will provide direct connections to the Eighth Avenue Subway and access to the station from 9th Avenue for the first time.
The complex also includes extensive renovation to the adjacent Seventh and Eighth Avenue subway stations.
The redevelopment – which the governor said would create thousands of jobs – is scheduled to be complete by 2020.
Governor Andrew Cuomo said: “50 years after the loss of the original Penn Station structure, passengers will once again experience a world-class rail hub worthy of New York.
“The Farley Building’s Moynihan Train Hall is two decades in the making, and we are proud that this project is finally a reality.
“With better access to trains and subways and state-of-the-art infrastructure, the Moynihan Train Hall seamlessly joins history, architectural design and function, bringing the nation’s busiest rail station into the 21st century.”