NEW YORK CITY-Today the New York State Public Authority Control Board met in a special session to vote on the Moynihan Station project, but voting was delayed for the third time. GlobeSt.com has learned that the assembly representative failed to show up for the meeting, so the board did not have the necessary quorum to hold a vote. The governor’s office hope the project will be on the agenda at this Wednesday’s meeting, according to a representative.

As GlobeSt.com reported earlier, Gov. George Pataki and Mayor Michael Bloomberg in a press conference Thursday called for the approval of the plan, lauding its expected benefits for the city.

“The Moynihan Station project is one of the more important transportation projects in the country,” Pataki says, according to the press release issued after the event. “New York commuters are in desperate need of a redesigned and updated transit center… .”

The venture, to be developed by the Related Cos. and Vornado Realty Trust, is meant to clear commuter congestion at Penn Station. The new Daniel Patrick Moynihan Station will house space for New Jersey Transit and Long Island Railroad, while being connected to Penn Station. New Jersey Transit agreed to anchor the project in November 2005, as reported by GlobeSt.com.

The project would be constructed mostly at the James A. Farley Post Office Building and the western annex of the building. The Moynihan Station, estimated to be a $900-million endeavor, will be funded by state, city and federal governments, the US Post Office, Vornado and Related, as reported by GlobeSt.com. Construction is slated to begin by the end of 2006.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.