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11/29/2005



Rail News: Rail Industry Trends

NJ Transit to be anchor tenant at NYC's Moynihan Station


New Jersey Transit and the Moynihan Station Development Corp. (MSDC) recently arranged a deal that enables the transit agency to become the anchor rail tenant at the new Moynihan Station on Eighth Avenue in New York City.

NJ Transit will negotiate a 99-year lease for 35,000 square feet of space designated for passengers, customer service and transportation support. Under the agreement, NJ Transit will have operational control of the new station, and integrate the new facilities on Eighth Avenue with its existing platform and station operations under Seventh Avenue in Penn Station, as well as the planned multi-level station under 34th Street. The agency will pay MSDC $2.3 million annually to use the space.

“As the anchor transportation tenant, our passengers will benefit from expanded customer service, retail and restaurant amenities, as well as relief from overcrowding at Penn Station,” said NJ Transit Chairman Jack Lettiere in a prepared statement.



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