NEW YORK | 15 Penn Plaza (Hotel Penn) | 1,050 FT / 315 M | 52 FLOORS

[NYguy]

Originally Posted by scalziand

I just find it funny that $83 million is enough to start a project that will ultimately cost several billion.

A little more on that...

http://www.newsday.com/long-island/first-phase-of-penn-station-overhaul-fully-funded-1.1764909

First phase of Penn Station overhaul fully funded

February 16, 2010
By ALFONSO A. CASTILLO


Phase One includes doubling the size of the LIRR's West End Concourse, on the Eighth Avenue side of the station, and adding 13 elevators, stairways and escalators leading down to train platforms. It would also improve customer flow to the concourse by doubling the width of the 33rd Street connector.

The Farley building will get new street-level entrances and a new ventilation system for its future train station.

Phase One is expected to be completed by 2015. Phase Two - the actual construction of Moynihan Station inside the Farley building - is estimated to cost between $1 billion and $1.5 billion and will be funded by the Port Authority of New York and New Jersey. Amtrak operations would be relocated from Penn Station to the Moynihan Station.

Highlights of Phase One of the Moynihan Station project, which officials say is now fully funded, with work expected to begin by the end of the year:

EIGHTH AVENUE SIDE

Doubling the length and width of Penn Station's West End Concourse, which serves LIRR customers on the Eighth Avenue side of the station. It will be big enough to house LIRR ticket vending machines.

TRACK ACCESS

Installing 13 new escalators, elevators and stairs to LIRR platforms, which will allow passengers to access 17 tracks from the West End Concourse rather than the current nine. As a result, passengers will clear LIRR platforms more quickly, and trains should be able to move in and out of Penn Station faster.

33RD STREET CONNECTOR

Doubling the width of the connector to the West End Concourse, which will improve passenger flows.

NEW ENTRANCES

Street access to the Farley building, future home of an Amtrak terminal.

Meanwhile, we now enter into the 60-day community board review phase (expect slight turbulence).....