GDC Secures $16B Funding for Hudson Tunnel Project 

The Gateway Development Commission (GDC) has secured $16 billion for the Hudson Tunnel Project (HTP), including $6.88 billion in federal funding and $4.06 billion in loans. This marks the largest federal funding commitment to a rail project in U.S. history.  

“For a long time now, the Gateway project has been my passion. It’s a labor of love. And after many false starts and obstacles placed in our way, Gateway is full speed ahead with billions from FTA ready to go and be used for critical work and construction,” said Senator Charles Schumer. “Gateway’s future is assured and the most important public works project in America is all systems go.” 

The HTP will build two new tracks and rehabilitate the existing North River Tunnel, creating four modern tracks between New York and New Jersey by 2035. Expected to create 95,000 jobs and generate $19.6 billion in economic activity, construction began in November 2023 with heavy construction starting soon.