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Originally Posted by jmecklenborg
Earlier this year I read an article from the 1930s that detailed the grade separation of that project around 1930~. It cost $150 million - a truly staggering sum for a project nobody thinks about today (more than construction of Penn Station), and it doesn't seem to receive much traffic (by NYC standards). That same periodical reported that construction of the IND subway in the late 1920s-early 1930s was about $400 million - at the time the largest civic improvement in the history of Planet Earth.
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I believe Amtrak is, at the moment, the only operator that uses those tracks within Manhattan, hence the low traffic volume. The future plan is for Metro North to implement service into Penn Station using those track.