During the event at the Association for a Better New York, Cuomo also confirmed that a joint venture of Related Companies, Vornado Realty, and Skanska has been awarded a fixed-price design-build contract to convert the Farley building for its new role, which involves the construction of a 23,700m2 passenger concourse. This will increase floor space by almost 50% compared with Penn station.
The joint venture will also create 54,600m2 of office space and 10,400m2 of retail space within the Farley complex. Preconstruction work will begin on the project this autumn and the new concourse - dubbed the Moynihan Train Hall - is due to be completed by December 2020.
The joint venture will contribute $US 600m towards the cost of the project, reflecting the value of development opportunities at the site. Empire State Development will contribute $US 570m, with the remaining $US 570m coming from Amtrak, LIRR, the Port Authority of New York and New Jersey, and federal government sources.
Cuomo also announced a major redesign of the LIRR section of Penn station, which involves almost tripling the width of 33rd Street corridor, one of the busiest parts of the existing station. The $US 170m project will include upgraded lighting, passenger information, and wayfinding. The project includes a $US 50m redesign of the two subway stations at Penn station.
New York Metropolitan Transportation Authority (MTA) issued a request for proposals for preliminary design on September 27 and a contract is due to be awarded by the end of the year.
Redevelopment of the Amtrak concourse at Penn station is also planned following the completion of Moynihan Train Hall.