Jones Lang LaSalle


Plans unveiled for new Moynihan station
by Catherine Tymkiw
April 27, 2006

Plans for the $818 project include a grand concourse and a train hall, comprising open, sky-lit public spaces with direct accces to Ninth Avenue.

The Moynihan Station Development Corp. unveiled plans for a new $818 million rail terminal across the street from Pennsylvania Station, with New Jersey Transit as the lead tenant.
The new Moynihan Station, named after the late U.S. Sen. Daniel Patrick Moynihan, will convert the James A. Farley General Post Office into a 300,000-square-foot train station with 850,000 square feet of commercial space and one million square feet of air right for a residential housing tower.

Plans, created by architect David Childs, call for a grand concourse leading directly to train platforms and a train hall, which will be open, high-ceiling, sky-lit public spaces with direct access to Ninth Avenue.

More than $556 million will be spent for design, development and construction work. The Empire State Development Corp. will pay about $230 million to the United States Postal Service for the title to the building.

NJ Transit anticipates paying about $2.3 million a year over 99 years to lease 35,000 square feet. NJ Transit will have operational control of the new station on Eighth Avenue and will integrate with its existing operations in Penn Station, which handles more than 550,000 people every day.

Amtrak and the Long Island Railroad, which both operate out of Penn Station, have no current plans to take space in the new station.

The plan will be open to a month-long public comment period, starting with a public hearing scheduled for May 31.