The conversion of the James A. Farley Post Office building, across from Penn Station, into the new Moynihan Train Hall, is officially underway, Governor Andrew Cuomo announced Thursday afternoon.
Demolition work at the post office building got underway in September 2016, but the site has now been prepped for the new train hall which will measure 255,000 square feet, come with a 92-foot-tall skylight, and have nine platforms and 17 tracks serviced by eleven escalators and seven elevators.
“For decades, passengers were promised a world-class train hall worthy of New York - today, we are delivering on that promise and turning that dream into a reality,” Cuomo said in a statement. “With better access to trains and subways, vibrant retail and business opportunities and stunning architectural design, we are bringing Penn Station into the 21st century."
The vibrant retail he’s referring to will be part of 700,000 square feet of commercial, retail, and dining venues inside the transformed Farley building. Once complete, the new Moynihan Train Hall will provide a direct connection to the Eight Avenue Subway, and for the first time ever, a new entrance to the overall Penn-Farley complex on Ninth Avenue.
The project is being developed by the developer-builder team of Related Companies, Vornado Realty LP, and Skanska USA, who have also contributed $630 million towards the construction of this project. As a result, they will have a 99-year lease on the Farley Building, according to The New York Times. The rest of the funds for this $1.6 billion project are being contributed by the State, Amtrak, the MTA, and the Port Authority. Construction on the new train hall is set to wrap by 2020.