{"id":273350,"date":"2026-06-21T20:05:08","date_gmt":"2026-06-21T20:05:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/273350\/"},"modified":"2026-06-21T20:05:08","modified_gmt":"2026-06-21T20:05:08","slug":"final-design-for-nyc-penn-stations-redevelopment-one-step-closer-including-how-much-it-could-cost","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/273350\/","title":{"rendered":"Final design for NYC Penn Station’s redevelopment one step closer — including how much it could cost"},"content":{"rendered":"

Marking a milestone toward building a new Penn Station, Amtrak and Penn Transformation Partners have signed a pre-development agreement \u2013 a legally binding contract that paves the way to a final design and detailed budget for the $7 billion-to-$8 billion project.<\/p>\n

The pre-development phase will run through 2027, during which time Amtrak and the development partners will conduct\u00a0\u201crobust\u201d community engagement before the final plan is completed, they said.<\/p>\n

Amtrak owns Penn Station. Its\u00a0role in transforming the station is led by special advisor Andy (\u201cTrain Daddy\u201d) Byford, who won accolades for his term as head of New York City Transit from 2018-2020.\u00a0PTP is a joint venture led by Halmar, a New York-based heavy construction firm that\u2019s part of an Italian conglomerate,\u00a0and Swedish-based construction and development giant Skanksa.<\/p>\n

\"IllustrationA rendering of the proposed new Penn Station, which is expected to cost between $7 billion to $8 billion. Practice for Architecture and Urbanism<\/p>\n

Amtrak and PTP are advancing a top-to-bottom transformation of the widely hated\u00a0terminal, the busiest in the US with more than 600,000 weekday rail and subway riders. PTP, headed by CEO Peter Cipriano, was chosen by the\u00a0US Department of Transportation last month.<\/p>\n

Cipriano said, \u201cNow, we will move forward as quickly and efficiently as possible to advance the design, establish a clear path to construction, and ensure the station reflects the needs of riders and the community.<\/p>\n

\u201cThanks to our strong partnership with the Trump Administration, US Department of Transportation, and Amtrak, we are moving this once-in-a-generation project from vision to reality,\u201d he said.<\/p>\n

Unlike other proposals submitted to the DOT, \u00a0the plan\u00a0doesn\u2019t call for Madison Square Garden, which stands atop the terminal, to be moved.<\/p>\n

The new configuration devised by architect Vishaan Chakrabarti essentially situates the Garden as a circle within the square of the new terminal. Penn Station\u2019s main entrance will be moved to Eighth Avenue behind a grand, colonnaded facade. The\u00a0upper half of the Garden\u2019s unattractive, round \u00a0\u201cdrum\u201d \u00a0will be reclad with limestone fins and protrude upward from\u00a0the terminal.<\/p>\n

The\u00a0station\u2019s up-and-down\u00a0and confusing ticket counters, waiting areas\u00a0and corridors will be replaced by a single-level, light-flooded\u00a0concourse with soaring ceilings and stores, restaurants and customer service facilities to promote public activity.<\/p>\n

\"IllustrationA rendering of the interior of Penn Station\u2019s top-to-bottom transformation. Practice for Architecture and Urbanism<\/p>\n

Byford said, \u201cThe momentum continues to transform Penn Station. Having a renowned partner in PTP officially onboard \u00a0ensures the project will progress further and faster while meeting all deadlines on schedule.<\/p>\n

\u201cNew Yorkers just experienced the Knicks championship right above the station and we\u2019re committed to giving them something to be equally proud of within the same building where a banner will be raised,\u201d Byford said.<\/p>\n

The federal\u00a0DOT invested $243 million to support the project\u2019s early stages. The agency is also investing nearly $5 billion into Amtrak\u2019s Northeast Rail Corridor.<\/p>\n","protected":false},"excerpt":{"rendered":"Marking a milestone toward building a new Penn Station, Amtrak and Penn Transformation Partners have signed a pre-development…\n","protected":false},"author":2,"featured_media":273351,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[6922,4894,288,1489,5459,222,9,56,63,65,64,7968,3274],"class_list":["post-273350","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york-city","tag-amtrak","tag-andy-byford","tag-business","tag-commercial-real-estate","tag-department-of-transportation","tag-madison-square-garden","tag-new-york","tag-ny","tag-nyc","tag-nyc-headlines","tag-nyc-news","tag-penn-station","tag-realty-check"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/273350","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=273350"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/273350\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/273351"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=273350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=273350"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=273350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}