New York will renovate Penn Station during shelter-in-place
New York Governor Andrew Cuomo announced May 26 that the city would expedite construction on the new Empire Station at Pennsylvania Station while the city remains on coronavirus lockdown.
"The time to fix the hole in the roof is when the sun is shining," Cuomo said during a May 26 press conference. "Now is the time to build, while the ridership is low and we need the jobs."
According to a slide presented during the conference, the Empire Station Complex Project has created 14,500 total jobs to date.
Related: TPG's guide to Penn Station in New York City
Cuomo famously called Penn Station "a national laughingstock" back in 2016, saying that the outdated depot is "decrepit, and an affront to riders to use it."
The Empire Project is the latest in a long line of reconstruction plans that have been proposed over the past 30 years by multiple leaders, all of which have been stymied or stalled for various reasons.
Related: Cuomo's January 2020 summary of the Empire Station Complex
The current station was built in 1910 by the Pennsylvania Railroad, and has already been demolished and rebuilt once before, which relocated the station underground in 1969. Penn is the busiest train station in the Western Hemisphere, and currently serves as the main intercity railroad station in New York City.
Cuomo will visit the White House Wednesday, May 27, to discuss the building plans and project infrastructure which will link Penn Station, the new Moynihan Train Hall and a brand-new terminal which will be built one block south of the current Penn Station site.
Earlier this month, we learned Penn Station was being closed overnight for deep cleanings during the coronavirus outbreak.
TPG has reached out to Amtrak regarding possible plans for the new Empire Station, and will report back with any news updates. The railroad company is struggling from the impact of the coronavirus outbreak, however, and has asked Congress for a $1.5 billion bailout, reporting a 95 percent drop in ridership since the beginning of the pandemic, according to the Washington Post.
Furthermore, Amtrak announced Tuesday in an internal memo that the company is preparing to cut 20% of its 18,000-plus workforce by October 2020, the beginning of its 2021 fiscal year, according to the Wall Street Journal.
During the same press conference, Cuomo also announced that the city would expedite the construction of a new LaGuardia Airport as well, a project that has created 8,000 jobs thus far.
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Intro offer
Annual Fee
Recommended Credit
Why We Chose It
There's a lot to love about the Amex Gold card. It's been a fan favorite during the pandemic because of its fantastic rewards rate on restaurants (that includes takeout and delivery in the U.S.!) and U.S. supermarkets. If you're hitting the skies soon, you'll also earn bonus points on travel. Paired with up to $120 in Uber Cash (for U.S. Uber rides or Uber Eats orders) and up to $120 in annual dining statement credits at eligible partners, there's no reason that the foodie shouldn't add this card to their wallet. Enrollment required.Pros
- 4x on dining at restaurants and U.S. supermarkets (on the first $25,000 in purchases per calendar year; then 1x)
- 3x on flights booked directly with the airline or with Amex Travel
- Welcome bonus of 60,000 points after spending $4,000 in the first six months
Cons
- Weak on travel outside of flights and everyday spending bonus categories
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber/food credits
- Few travel perks and protections
- Earn 60,000 Membership Rewards® points after you spend $4,000 on eligible purchases with your new Card within the first 6 months of Card Membership.
- Earn 4X Membership Rewards® Points at Restaurants, plus takeout and delivery in the U.S., and earn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X).
- Earn 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com.
- $120 Uber Cash on Gold: Add your Gold Card to your Uber account and each month automatically get $10 in Uber Cash for Uber Eats orders or Uber rides in the U.S., totaling up to $120 per year.
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- Choose the color that suits your style. Gold or Rose Gold.
- No Foreign Transaction Fees.
- Annual Fee is $250.
- Terms Apply.
- See Rates & Fees
Rewards Rate
| 4X | Earn 4X Membership Rewards® Points at Restaurants, plus takeout and delivery in the U.S. |
| 4X | Earn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X). |
| 3X | Earn 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com. |
Intro Offer
Earn 60,000 Membership Rewards® points after you spend $4,000 on eligible purchases with your new Card within the first 6 months of Card Membership.60,000 bonus pointsAnnual Fee
$250Recommended Credit
Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.670-850Excellent/Good
Why We Chose It
There's a lot to love about the Amex Gold card. It's been a fan favorite during the pandemic because of its fantastic rewards rate on restaurants (that includes takeout and delivery in the U.S.!) and U.S. supermarkets. If you're hitting the skies soon, you'll also earn bonus points on travel. Paired with up to $120 in Uber Cash (for U.S. Uber rides or Uber Eats orders) and up to $120 in annual dining statement credits at eligible partners, there's no reason that the foodie shouldn't add this card to their wallet. Enrollment required.Pros
- 4x on dining at restaurants and U.S. supermarkets (on the first $25,000 in purchases per calendar year; then 1x)
- 3x on flights booked directly with the airline or with Amex Travel
- Welcome bonus of 60,000 points after spending $4,000 in the first six months
Cons
- Weak on travel outside of flights and everyday spending bonus categories
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber/food credits
- Few travel perks and protections
- Earn 60,000 Membership Rewards® points after you spend $4,000 on eligible purchases with your new Card within the first 6 months of Card Membership.
- Earn 4X Membership Rewards® Points at Restaurants, plus takeout and delivery in the U.S., and earn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X).
- Earn 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com.
- $120 Uber Cash on Gold: Add your Gold Card to your Uber account and each month automatically get $10 in Uber Cash for Uber Eats orders or Uber rides in the U.S., totaling up to $120 per year.
- $120 Dining Credit: Satisfy your cravings and earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, Milk Bar and select Shake Shack locations. Enrollment required.
- Choose the color that suits your style. Gold or Rose Gold.
- No Foreign Transaction Fees.
- Annual Fee is $250.
- Terms Apply.
- See Rates & Fees