Penn Station overhaul advances with pre-development pact and $7–8B budget

Amtrak and Penn Transformation Partners signed a pre-development agreement to push Penn Station’s overhaul toward a final design and a detailed budget estimated at $7–8 billion, with a 2027 completion window for the pre-development phase and ongoing community engagement. Led by Amtrak’s Andy Byford and Penn Transformation Partners (Halmar/Skanska) under Vishaan Chakrabarti’s design, the plan would relocate the main entrance to Eighth Avenue, wrap Madison Square Garden into a circular form atop the terminal, and replace the current maze of ticketing and corridors with a single, daylight-flooded concourse with shops and services. Madison Square Garden would stay atop the station, and federal DOT funding supports the project as momentum toward construction builds.