DOT selects developer for Penn Station redevelopment after taking over the project from MTA

The Trump Administration has announced that Penn Transformation Partners (Halmar and Skanska) has been appointed Master Developer of the overhaul of New York Penn Station. As we reported last year, Trump took over the project from the MTA, criticizing its management and budget. 

Announcing the move, the Department of Transportation also said that $200 million of additional funding would be provided to the project, which will reportedly cost $7 billion. The project hopes to break ground in 2027.

The plan, which has been in development for over five years, was stalled after the pandemic due to the new financial realities of the CRE market in Midtown. 

The National Civic Art Society released their own "classically inspired" alternative design last year that would reposition Madison Square Garden.