Overview
- Federal control of the project, which moved from the MTA to USDOT/Amtrak in April 2025, produced a developer pick and public designs this week that show a 50-foot train hall and a new Eighth Avenue entrance.
- Officials and Penn Transformation Partners say the overhaul will cost roughly $7 billion to $8 billion and that the federal government has already committed initial planning funds totaling about $243 million.
- Project leaders aim to begin construction in late 2027 with phased work over roughly six years while keeping train service running, but detailed plans to protect LIRR, NJ Transit and Amtrak operations during work are not final.
- Negotiations remain unresolved over who will pay the full cost, how private financing or availability payments would work, and what property terms will be agreed with Madison Square Garden.
- The released renderings include a presidential plaque bearing President Trump’s name, a politically charged detail that has heightened scrutiny from local leaders, transit advocates and the public.