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Full steam ahead for Moynihan Station.


The Empire State Development Corporation is living up to its promise to finally get the Daniel Patrick Moynihan Noun 1. Daniel Patrick Moynihan - United States politician and educator (1927-2003)
Moynihan
 Train Station built and could start facade work in as little as two weeks time.

On September 8, the agency's board of directors agreed to enter a preliminary contract with 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  to do an engineering and construction analysis on its Penn Station area infrastructure to prepare for the construction of the new Train Station.

The ESDC ESDC Empire State Development Corporation
ESDC Extra Segment Descriptor Cache
ESDC Extremal Self-Dual Code
 has also received $10 million from the developers that it will put toward its down payment for the former U.S. Post Office U.S. Post Office can refer to the United States Postal Service system.

There are many interesting and historic buildings among the large number of facilities.
 facility in which the station will be located. The agency has already paid the Post Office $20 million.

According to members of the ESDC board, Amtrak will receive up to $1.3 million to evaluate its existing platforms and tracks and inform the developers of any adjustments that will have to be made for the Moynihan Station project. Amtrak had been expected to play a major role in the construction process, but had to abandon those plans due to financial difficulties last summer. However, because some of the train operator's tracks are located in the project area, Amtrak will still need to be involved.

The Daniel Patrick Moynihan Train Station has been on the ESDC's planning board for more than 10 years and, but for various reasons--including Amtrak's withdrawal from the project and the fallout from 9/11--it has been postponed several times.

All the elements finally came into place this July, with the appointment of 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.  and the Related Companies as the developers for the $818 million Station. The next step on ESDC's agenda will be negotiations with New Jersey Transit The New Jersey Transit Corporation (NJ Transit) is a statewide public transportation system serving the state of New Jersey, and Orange and Rockland counties in New York. It operates bus, light rail, and commuter rail services throughout the state, notably connecting to major , which will be one of the main tenants at the new facility. Those negotiations are expected to begin in the next few weeks.
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Article Details
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Title Annotation:Construction & DESIGN
Author:Misonzhnik, Elaine
Publication:Real Estate Weekly
Geographic Code:1USA
Date:Sep 14, 2005
Words:304
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