Amtrak and the U.S. DOT have selected a joint venture between Halmar and Skanska to lead the multibillion-dollar Penn Station reconstruction project in Manhattan.
Amtrak has officially selected Halmar International to serve as the master developer for the renovation of Penn Station in New York City. Despite the announcement, Amtrak has provided minimal information regarding the project's total cost, financing structure, or the specific criteria used to choose the developer. While the project is intended to introduce a grand entrance on Eighth Avenue, a new concourse, and retail space, project details remain vague, leaving transparency advocates and local officials questioning how the initiative will be funded and whether New York taxpayers will face financial liability.
The proposed development, branded as Penn Transformation Partners, aims to implement a design-build-operate-maintain-finance (DBOM-F) model. Although federal officials previously suggested a total project cost of approximately $8 billion, inconsistent messaging regarding public sector contributions—and potential involvement from private entities like Vornado—continues to fuel uncertainty. With construction currently targeted to begin in 2027, the scope of the station's planned through-running rail operations and final architectural design remain unconfirmed.
The South Battery Park City Resiliency Project is advancing in Lower Manhattan, with crews currently installing storm surge walls to protect the neighborhood.
New renderings for a potential Penn Station renovation in New York City reveal proposed interior aesthetic updates while leaving major expansion and financing questions unresolved.
The development team for the Penn Station overhaul in Midtown Manhattan has revealed new renderings for the massive transit-oriented project.
The new sand-focused section of Bushwick Inlet Park opens at Kent and North 14th Streets in Greenpoint.
Daily emails covering the projects and news that match your service area, building types, and the project stages you bid on.
Free now — first 50 founding members lock in 30% off at launch.
Free. One click to unsubscribe. No tracking pixels.