New York Has Plan to Make Room for Penn Station Renovations

"The Farley building would be a home for both Amtrak and, in a break with past proposals, the Long Island Rail Road, which should bring some relief to the congestion at Penn Station, which also houses New Jersey Transit," adds Bagli.

As noted at the outset of the article, the challenge of fixing Pennsylvania station has stymied governors and mayors for 25 years. The project will require a lot of private partners. So far, Gov. Cuomo has selected developers Related Companies, Vornado Realty and Skanska AB to complete the $1.6 billion plan. "The developers will pay $600 million for the rights to the Farley project. Empire State Development, a state agency, and Amtrak, which owns Penn Station, will soon solicit bids for overhauling the station," according to Bagli.

In a separate article, Amy Plitt summarizes the Penn Station and Farley building development proposals:

Today, Governor Andrew Cuomo unveiled plans for the forthcoming Pennsylvania Station-Farley Complex, along with announcing the developers and builders who will collaborate on the project. The plans call for a brand new, 255,000-square-foot train hall, which will accommodate both Amtrak and Long Island Rail Road passengers, that’s scheduled to be completed by the end of 2020. (Yes, you read that date right.)

Plitt also provides a list of big takeaways from the governor's announcement—recommended reading for the details and scope of the project.