Skip to content

New York's Penn Station is About to Undergo a $1.6 Billion Renovation

Sept. 28, 2016
3 min read
moynihan-train-hall-renderings_29965860095_o
New York's Penn Station is About to Undergo a $1.6 Billion Renovation
The cards we feature here are from partners who compensate us when you are approved through our site, and this may impact how or where these products appear. We don’t cover all available credit cards, but our analysis, reviews, and opinions are entirely from our editorial team. Terms apply to the offers listed on this page. Please view our advertising policy and product review methodology for more information.

New Yorkers know that Penn Station is one of those places that you'd rather run from than toward. It's old, dirty, dark and overall pretty decrepit. So it comes as welcome news that Governor Andrew Cuomo just unveiled plans for a new — and drastically improved — Pennsylvania Station-Farley Complex. The best part of all: it's all scheduled to be completed by the end of 2020.

The new Penn Station Farley Building will house the Moynihan Train Hall for Amtrak and LIRR passengers. The new hall looks like a major improvement, at 250,000 square feet and 10 stories tall, which makes it 50% larger than the existing Penn Station — and larger than nearby Grand Central Station.

The new Moynihan Train Hall will be larger than Grand Central Station.

There will be new ticketing and waiting areas, as well as 700,000 square feet of retail and office space.

The new hall will be brighter and more open, with nicer ticketing and waiting areas.

Tall glass arches will provide natural sunlight into the station, a welcome addition for anyone who's traveled through Penn Station in its current condition.

Plenty of natural light and more retail options will make traveling through Penn Station a pleasant experience.

The LIRR corridor will also become more traveler-friendly, featuring wider hallways, brighter ceilings and more signage. Penn Station's current hallways are 25 feet wide — which can be a real nightmare during rush hour — but with the new construction, they'll be more than 70 feet wide.

The new LIRR corridor will feature better signage as well.

The ceiling height, on the other hand, is somewhat limited, but will be expanded to 18 feet tall, two feet above its current level. In addition, the ceiling will feature an LED screen with bright skies and clouds.

The new LED ceiling will make the LIRR corridor appear much brighter.

Both subway stations that are connected to Penn Station (the A/C/E and 1/2/3 lines) will be refreshed as well. You can also expect to find free Wi-Fi, USB and outlet power stations and real-time train updates throughout the station.

The three contractor companies that will be transforming the building include Related Companies, Vornado Realty LP and Skanska AB. In all, the project will cost a total of $1.6 billion. There's no doubt that these changes, which are scheduled to be completed by 2020, are welcome for anyone who travels through it now — when the Governor actually refers to it as "the LaGuardia of train stations," you know something needs to be changed!

H/T: Curbed New York

Daily Newsletter
Reward your inbox with the TPG Daily newsletter
Join over 700,000 readers for breaking news, in-depth guides and exclusive deals from TPG’s experts

All images courtesy of the Governor's Office.

TPG featured card

4 / 5
Go to review
Rewards rate
1XChoose to earn up to 1X points on rent and mortgage payments with no transaction fee
2XEarn 2X points + the option to earn 4% back in Bilt Cash on everyday purchases
Intro offer
Open Intro bonus
50,000 Bilt Points + Gold Status + $300 of Bilt Cash
Annual fee
$495
Regular APR
26.74 - 34.74% variable
Recommended credit
Open Credit score description
Good Credit, Excellent Credit

Pros

  • Choice to earn up to 1 Bilt Point per dollar spent on rent and mortgage payments
  • Elevated everyday earnings with both Bilt Points and the option to earn Bilt Cash
  • $400 Bilt Travel Portal hotel credit per year (up to $200 biannually)
  • $200 Bilt Cash annually
  • Priority Pass membership
  • No foreign transaction fees

Cons

  • Moderate annual fee
  • Designed primarily for members seeking a premium, all-in-one card
  • Earn points on housing with no transaction fee
  • Choose to earn 4% back in Bilt Cash on everyday spend. Use Bilt Cash to unlock point earnings on rent and mortgage payments with no transaction fee, up to 1X.
  • 2X points on everyday spend
  • $400 Bilt Travel Hotel credit. Applied twice a year, as $200 statement credits, for qualifying Bilt Travel Portal hotel bookings.
  • $200 Bilt Cash (awarded annually). At the end of each calendar year, any Bilt Cash balance over $100 will expire.
  • Welcome bonus (subject to approval): 50,000 Bilt Points + Gold Status after spending $4,000 on everyday purchases in the first 90 days + $300 of Bilt Cash.
  • Priority Pass ($469/year value). See Guide to Benefits.
  • Bilt Point redemptions include airlines, hotels, future rent and mortgage payments, Lyft rides, statement credits, student loan balances, a down payment on a home, and more.