NYC Rail Tunnel Cost Up 6% to $12.3 Billion on Trump Delays
- Gateway increase also blamed on costs related to pandemic
- Project crucial to Northeast corridor passenger-rail service
Photographer: Spencer Platt/Getty Images
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The cost of the planned Gateway project under the Hudson River into New York City has escalated to $12.3 billion, a 6% increase over the $11.6 billion estimate of a year ago, according to the latest financial plan from the agency overseeing the project.
The increased cost from the Gateway Development Corporation is due to delays during the four years in which former President Donald Trump’s administration held up the project, said Amtrak Chairman Anthony Coscia. The rail agency, along with the states of New York and New Jersey, is one of three local entities sponsoring and financing the project. The latest estimate is still below the $12.7 billion that project planners gave in 2017, Coscia said.