Posted Apr 10, 2021, 1:02 AM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 56,707
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https://www.newsday.com/amp/long-island/transportation/nine-new-lanes-at-penn-station-1.50208892
Penn Station expansion moving forward with $1.3B in new state budget
By Alfonso A. Castillo
April 9, 2021
Quote:
A $1.3 billion cash infusion in the new state budget will kick-start a massive renovation and expansion of Penn Station, despite growing concerns over plans to knock down and replace several buildings around the LIRR’s Manhattan hub.
The budget agreement reached earlier this week between Gov. Andrew M. Cuomo and the State Legislature includes the first wave of funding for the development of the new Empire Station Complex, which aims to rebuild the existing Penn Station and expand it by razing the block south of the facility. The facility will add up to nine new tracks underneath it.
"The fully renovated Penn Station … will comprise a widened and completely reconstructed 33rd Street LIRR concourse and an expanded and completely transformed station," Cuomo’s office said in a statement earlier this week.
The broader development plan, proposed by Cuomo in January 2020, aims to erect 10 new skyscrapers around the station — the tallest reaching up to 1,300 feet — that would be used for office and retail space, hotels, and potentially apartments. Revenue generated by the new buildings — including potential payments in lieu of taxes and air development rights — would be used to help finance transportation infrastructure improvements underground.
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Quote:
As a minor compromise between Cuomo and lawmakers, the final language in the budget bill specifies that the earmarked $1.3 billion must be used for the expansion of Penn and related transportation improvements "and not for above-grade development contemplated in the general project plan."
Project officials said the money was always intended to go toward the Penn Station work, including by funding early engineering and design work. But, they said, it also could be used to buy the properties underneath, where the new tracks would be built.
.... The renovated and expanded Penn Station is projected for completion by 2028, ahead of the completion of Amtrak's proposed new "Gateway" rail tunnel across the Hudson River. The aboveground property developments could take until 2038 to complete.
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A big DUH on what the budget funding is for. People get an idea, and run with it.
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