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New York State Board Signs Off on Hochul Plan to Revamp Penn Station
New York State’s Public Authorities Control Board voted Wednesday to approve a financial framework supporting Gov. Kathy Hochul’s proposal to rebuild and potentially expand Penn Station and reactivate the surrounding area. The unanimous vote, which follows last week’s approval by Empire State Development’s board, locks in an agreement between Hochul and New York City Mayor Eric Adams on the financial framework.
“For far too long, Penn Station has been an overcrowded, cramped, and neglected mess,” said Hochul. “This vote is a major milestone in our plan to fix Penn Station and transform the surrounding neighborhood.”
Hochul’s plan includes the construction of a new, modern train station; up to 1,800 units of housing, including affordable and supportive housing units; new office space; eight acres of open space; and enhancements to the streets, sidewalks and local transit infrastructure. It also pledges to deliver the project without raising taxes or increasing transit fares.
- ◦Development
- ◦Financing
- ◦Policy/Gov't
