As GlobeSt.com reported earlier, Gov. George Pataki and Mayor Michael Bloomberg in a press conference Thursday called for the approval of the plan, lauding its expected benefits for the city.
"The Moynihan Station project is one of the more important transportation projects in the country," Pataki says, according to the press release issued after the event. "New York commuters are in desperate need of a redesigned and updated transit center… ."
The venture, to be developed by the Related Cos. and Vornado Realty Trust, is meant to clear commuter congestion at Penn Station. The new Daniel Patrick Moynihan Station will house space for New Jersey Transit and Long Island Railroad, while being connected to Penn Station. New Jersey Transit agreed to anchor the project in November 2005, as reported by GlobeSt.com.
The project would be constructed mostly at the James A. Farley Post Office Building and the western annex of the building. The Moynihan Station, estimated to be a $900-million endeavor, will be funded by state, city and federal governments, the US Post Office, Vornado and Related, as reported by GlobeSt.com. Construction is slated to begin by the end of 2006.
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