Monday, June 19, 2017

Deal struck for redeveloped Penn-Farley Complex

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Deal struck for redeveloped Penn-Farley Complex Office of Governor Andrew Cuomo

A financial agreement has been reached between all partners involved in the Pennsylvania Station-Farley Complex redevelopment project to transform New York City's James A Farley Post Office into a world-class transportation hub.


"Fifty years after the loss of the original Penn Station structure, passengers will once again experience a world-class rail hub worthy of New York," Gov. Andrew M. Cuomo said. "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."

The Farley Building redevelopment into the Moynihan Train Hall will create a new 255,000 square-foot Train Hall for Long Island Rail Road (LIRR) and Amtrak passengers and increase Penn Station's total concourse floor space by more than 50 percent. The Farley Building will also house 700,000 square-feet of new commercial, retail and dining space within the mixed-use facility and create an iconic civic space for Manhattan's West Side.

The $1.6 billion project is being funded with $550 million from the state, $420 million from Amtrak, the Metropolitan Transit Authority, the Port Authority of New York and New Jersey and federal grants and $630 million from the joint venture developers.

A total of nine platforms and 17 tracks will be accessible from the Train Hall. The Train Hall will provide direct connections to the Eighth Avenue Subway and create direct access to the train station from 9th Avenue for the first time, bringing unparalleled regional transportation options within convenient reach of the booming Hudson Yards and Far West Side areas.

In addition to the work being done as part of the new Moynihan Train Hall, the Penn-Farley Complex includes a comprehensive redesign of the LIRR's existing 33rd Street concourse at Penn Station and an extensive renovation to the adjacent Seventh and Eighth Avenue subway stations. The plan will include nearly tripling the width of the 33rd Street Corridor, which is among the busiest sections of Penn Station and stretches along the station's lower level from Seventh to Eighth Avenue. Other improvements include upgraded lighting and wayfinding and digital screens to convey information and create a modern passenger experience.

The new Train Hall is scheduled to be complete by the end of 2020.

"Our riders have long yearned for train hall that is as functional as it is beautiful and this new design offers them both. LIRR riders will enjoy better amenities and a station that is easy to navigate – two critical components for their daily commute," said MTA Interim Executive Director Ronnie Hakim.