“It's remarkable how reliable the trains have been, given the density of use,” he said. However, the vulnerability of New Jersey's rail connection to New York was brought into national focus when Superstorm Sandy flooded the Hudson and East River tunnels, breaching the lobby of the Hoboken train station and cutting off access to Penn Station.

Work on the master-planned project would begin with construction of two new trans-Hudson tunnels that would connect to Penn Station and the adjacent Farley Post Office Building, which is being transformed into Moynihan Station, said LaCroix. The master plan includes expansion of Penn's tracks and platforms and new concourses directly connected to Moynihan.

Once the new tunnels are built, the existing tunnels will be rebuilt and modernized. They were constructed in 1910 by the Pennsylvania Railroad – and need to be brought up to 21^st century standards for structural integrity, safety and flood resiliency, said the Amtrak executive.

Also, two new high-level fixed bridges would replace the existing Portal Bridge, which would be retired.

The plan, which LaCrox said would most probably be funded through a combination of federal and state funding, along with private development, includes improvement to the route between Newark and Secaucus Junction:

• The mainline would be expanded from two to four tracks between Newark and the tunnel portals at Bergen Palisades.
• Upgraded connections to the NJ Transit Morris and Essex Lines
• Upgraded bridges along the route.

The Amtrak executive told the NAIOP audience that, “We've been riding on on the investment of previous generations” in construction and upkeep of the rail system.

“Even if we get back to regular investment in maintenance, though,” he said, if population growth continues as expected, by 2030, we will be out of capacity.”