The

U.S. Department of Transportation

,

Amtrak

and

Penn Transformation Partners

(PTP) have unveiled the design renderings for the planned $7 billion redevelopment of New York Penn Station.

PTP, a joint venture between Halmar and Skanska, was

appointed master developer

for the project in May. The new station will be designed by the Practice for Architecture and Urbanism (PAU), a New York City-based design studio. The new renderings can be viewed on

PTP's new website

.

The transformation project will be funded primarily through grants to Amtrak, together with federal loans, private financing and equity raised by PTP, USDOT officials said in a press release. Part of the funding will come from a $200 million infusion through the Federal Railroad Administration's Partnership-Northeast Corridor Program. USDOT and Amtrak took over control of the Penn Station project from the New York Metropolitan Transportation Authority

in April 2025

, citing mismanagement, timeline and budgetary concerns.

Construction is slated to begin before the end of 2027, following a period of “robust community engagement,” USDOT officials said. Madison Square Garden will remain in place, and throughout construction, the arena and all railroads will continue to operate.

Planned improvements include a new grand entrance on Eighth Avenue to a new train hall, open concourses, expanded track capacity, new retail locations, better wayfinding and improvements to the existing subterranean structure.

Penn Station is a major transit hub; it's served by MTA Long Island Rail Road, Amtrak and New Jersey Transit trains. MTA New York City Transit subway lines run beneath the station.

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