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1/26/2026
Editor's note: This story has been updated to report the correct name of the Macquarie entity; it is Macquarie Capital.
Amtrak last week revealed the short list of groups that will be considered for the master developer team to lead the redesign of Penn Station in New York City.
The shortlisted groups are: Grand Penn Partners, led by Macquarie Capital; Penn Forward Now, led by Fengate Capital Management Ltd.; and Penn Transformation Partners, led by Halmar Infrastructure Development Inc.
Last year, U.S. Transportation Secretary Sean Duffy and Amtrak officials announced the $7 billion station redevelopment would be delivered through a public-private partnership and released a solicitation for the project's master developer.
Duffy also announced last year that Andy Byford, a former executive at MTA New York City Transit and an Amtrak senior vice president, would serve as the Amtrak adviser on the project.
Construction on the project is expected to begin by the end of 2027. In October 2025, Duffy said the effort was on schedule to meet that goal.