Penn Station Plans Stall

An ambitious, $900 million plan to redevelop New York City's Penn station has run into trouble

The Public Authorities Control Board (PACB) rejected a $900 million redevelopment scheme for New York City’s Pennsylvania station, the nation’s busiest passenger facility, on August 17.

The plan, drafted by Skidmore, Owings & Merrill, called for substantial changes to the adjacent Farley building, a McKim Mead &White design that currently serves as the city’s main post office. Reconceived as the Daniel Patrick Moynihan Station, the 300,000-square-foot transportation hub would be pierced by two immense vaulted skylights and include as much as 750,000 square feet of private, mixed-use space. The New York State Empire Development Corporation (ESDC) appointed the development companies Related and Vornado to control the commercial spaces.

Before it's here, it's on the Bloomberg Terminal.