Amtrak Approves Consortia For $7 Billion Penn Station Project

Penn Station redevelopment advances as Amtrak selects three consortia for the $7 billion project, with construction starting late 2027.

Amtrak Approves Consortia For $7 Billion Penn Station Project
January 26, 2026 11:40 pm | Last Update: March 8, 2026 5:44 am
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Amtrak has identified three consortia to proceed in the procurement process for the redevelopment of Pennsylvania Station in New York City. The selected groups are Grand Penn Partners, led by Macquarie; Penn Forward Now, led by Fengate; and Penn Transformation Partners, led by Halmar. The project is valued at approximately $7 billion.

The scope of the redevelopment includes the creation of a single-level, unified concourse to serve passengers of Amtrak, NJ Transit, and the Long Island Rail Road. This infrastructure initiative is structured as a public-private partnership. The planned start for construction activities at the Manhattan transit hub is scheduled for late 2027.

The modernization of Penn Station is a component of the larger Gateway Program. This broader program is designed to increase rail capacity between New Jersey and New York, which includes new track and tunnel infrastructure under the Hudson River.

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