Hochul abandons Vornado's office tower plan for Penn Station rebuild.
TL;DR
New York Governor Kathy Hochul announced that the $7 billion overhaul of Penn Station will proceed with or without the development of office towers that were supposed to help pay for the project. Hochul severed ties with the development plan that her predecessor, Andrew Cuomo, had worked out with Vornado Realty Trust, acknowledging that the pandemic had erased demand for more office space in Midtown Manhattan. The renovation of Penn Station is a pressing goal, and the design process will entertain all concepts for how to improve the station.
Topics:businesstransportation#kathy-hochul#office-towers#penn-station#renovation#transportation#vornado-realty-trust
- For Penn Station Rebuild, Hochul Drops Vornado Office Tower Plan The New York Times
- Skyscraper plan to fund Penn reconstruction sidelined Newsday
- New York officials call on engineers and architects for Penn Station redesign concepts WABC-TV
- Hochul drops Vornado from Penn Station plan on eve of ASTM's rival bid Crain's New York Business
- NY's Hochul Scraps Plan to Build New Office Spaces From Penn Station Rehab Plan Bloomberg
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