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11/13/2000



Rail News: Passenger Rail

Penn Station project lands TIFIA loan


U.S. Secretary of Transportation Rodney Slater and New York Senator Daniel Moynihan Nov. 9 signed a $140 million Transportation Infrastructure Finance and Innovation Act (TIFIA) loan to help finance Pennsylvania Station Redevelopment Corp.’s renovations to New York Penn Station and James A. Farley Post Office.

The $800 million Farley/Penn Station project is designed to increase station capacity by 30 percent and double passenger circulation space for the intermodal hub serving Amtrak, commuter rail, subway, bus, taxi and airport access transportation.

The project also would provide a new Manhattan terminal for Amtrak’s Acela Express service between Boston and Washington.


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