New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
NY, NJ Lawmakers Advance $13B Gateway Rail Tunnel Project
Legislatures of both New York State and New Jersey have passed legislation to establish a seven-member, bi-state commission that would oversee construction on the $13-billion Gateway rail tunnel between the states, and replacement of the Portal Bridge over the Hackensack River. Governors Andrew Cuomo of New York and Phil Murphy of New Jersey have signaled that they’ll sign the bills.
Gateway Program Development Corporation’s leadership said establishing the commission “will allow us to meet our mission of delivering Gateway and finally replacing a century-old, failing, one-track-in, one-track-out rail system with modern, reliable, 21st century infrastructure to serve hundreds of thousands of daily riders and 20% of the nation’s GDP.”
The legislation also would make the Gateway Development Commission eligible for federal, state and local grants to help fund the project. The existing tunnel dates from 1911 and sustained serious damage during Superstorm Sandy in 2012.
For comments, questions or concerns, please contact Paul Bubny
- ◦Economy
- ◦Development
