$600m Moynihan Station proposals on track.Charles A. Gargano, chairman of Empire State Development Corp. and its subsidiary, the Moynihan Station Development Corp., outlined the proposals from top architects for the design and development of Moynihan Station as New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of City's new flagship transit facility. Gargano said the $600 million project to transform Moynihan Station is on track and he expects a developer to be selected early this summer after a thorough review and evaluation of the proposals. "The quality and scope of the various proposals put forth for Moynihan Station show the importance of this project as a gateway to New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. ," Gargano said. "The various developers and their teams have provided us with exciting possibilities for the design and construction of 400,000 square feet of space for a new train station as well as hundreds of thousands of square feet for private development." Proposals were submitted by Boston Properties Boston Properties, Inc. (NYSE: BXP) is a self-managed real estate investment trust (REIT) based in Boston, Massachusetts. Its primary focus is "Class A" office space which it acquires, develops, and manages in the major markets of Boston, New York City, Washington, D.C. , Tishman Speyer Properties Tishman Speyer Properties is a leading real estate building and operating company set up in 1978 by two founding partners, Jerry Speyer and Robert Tishman. Overview together with Jones Lang LaSalle Jones Lang LaSalle (NYSE: JLL) is a major real estate and money management services firm headquartered in the Aon Center in Chicago, Illinois and the only company in its industry making it into Fortune magazine's list of the 100 Best Places to Work in the U.S. , The Related Companies L.P. together with Vornado Realty Trust Vornado Realty Trust (NYSE: VNO) is a New York based real estate investment trust. It is the inheritor of real estate formerly controlled by companies including Two Guys and Alexander's. . The teams included renowned architects and architectural firms, Sir Norman Foster, Cesar Pelli Associates, Robert A.M. Stern Architects and Kohn Pederson Fox. "Each team has incorporated highly respected design and preservation architects ensuring that the project will be designed and constructed in a manner that will evoke the original Penn Station, giving us light and open space," Gargano said. Gargano continued that the developers' proposals and strategies are now being reviewed and evaluated. He said the review will include the proposed design, development plan, financial commitment, construction management, and ongoing operational structure. The Request for Proposals (RFP (Request For Proposal) A document that invites a vendor to submit a bid for hardware, software and/or services. It may provide a general or very detailed specification of the system. 1. (business) RFP - Request for Proposal. 2. ) was issued last fall asking qualified developers to submit proposals to convert the Farley Post Office into Moynihan Station--a new 400,000 square foot intermodal transportation facility--while developing the remaining 750,000 square feet of potential commercial space as well as one million square feet of unused development rights. Some common threads among the proposals include emphasizing the preservation of the existing post office structure; creating an exciting public area for rail passengers, local residents and workers, and providing a 32nd Street passageway linking up to 9th Avenue. In addition to the construction of Moynihan Station within the Farley Building itself, developers proposed: big box retailer; a boutique or business hotel; destination retail and entertainment space; a museum; public space for exhibits and live performances; rooftop banquet/event hall; and specialty retail space. The development teams proposed utilizing the one million square feet in additional unused development rights for either office or residential use. Penn Station currently is the busiest passenger transportation facility in the country. The current terminal, a three-level, subterranean complex, was pieced together after the destruction of the original building in 1963. The station handles more than 550,000 daily commuters and passengers serving NJTransit, Long Island Railroad and Amtrak Amtrak, the National Railroad Passenger Corp., authorized to operate virtually all intercity passenger railroad routes in the United States. Amtrak was created by Congress in 1970 in response to more than two decades of continuous operating deficits by privately run . Gargano said that the state is working with the MTA (1) (Message Transfer Agent or Mail Transfer Agent) The store and forward part of a messaging system. See messaging system. (2) See M Technology Association. 1. (messaging) MTA - Message Transfer Agent. and NJTransit for their commuters to use the new station. |
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