Overview
- Amtrak named Penn Forward Now (led by Fengate), Penn Transformation Partners (led by Halmar/ASTM), and Grand Penn Partners (led by Macquarie) as finalists to serve as master developer.
- Officials plan to pick a winner by May with a public announcement by June, start preliminary design and NEPA work this summer, and aim for construction to begin at the end of 2027.
- Grand Penn proposes relocating Madison Square Garden to Seventh Avenue with a neoclassical station concept, while Halmar/ASTM would keep the arena in place and create a single-level concourse with new entrances; Penn Forward Now has not released a design.
- Amtrak has not posted a public RFP or selection criteria, prompting calls from good-government advocates and New York’s governor for greater disclosure about how the winner will be chosen.
- The project is framed as a design-build-operate-manage-finance partnership, raising questions about how costs would be covered and whether riders could face surcharges to repay private investment.