The shortlist announced ten months ago was the result of a review process by city, state, federal, Amtrak and US Postal Service officials looking at seven submissions of qualifications received in February 2000. The RFPs went out to the three shortlist choices within weeks of the announcement and submissions came in over the summer of 2000. With the name of the winner of the final round of evaluations in, negotiations can begin for the details of the 35-year master lease agreement, a development agreement and an operating agreement.

Staubach will serve as development manager and will design and execute the retail portion of the new station. Fraport will function as transportation operator and innovator. The partnership will oversee the day-to-day operations of the facility upon completion of the project. Skidmore, Owings & Merrill and Ove Arup and partners have already completed the design of the Farley-Penn, which were officially presented to the public on May 19, 1999 by former President Bill Clinton, Governor George Pataki and former Senator Daniel Patrick Moynihan.

The plans call for the eventual use of 2/3 of the James A. Farley Post Office, across Eighth Avenue from Madison Square Garden, by Penn Station. The new Penn Station will feature a soaring glass-enclosed atrium with approximately 100,000 sf of retail space, flagship facilities for Amtrak, links to JFK and Newark International Airports, commercial and conference center space, a 45 by 200 foot multi-media wall displaying travel news, stock reports, weather and other information, rehabilitation of the Eighth Avenue subway and new and renovated Postal Service facilities.