Project Details

✔ Project has been published!

Results Chart for Delivery Method and Financing

Delivery Method

DBFOM All Private Finance
# of Projects: 1
100% of the Results

Background informationProject Created: March 27, 2018

Project Name: Pennsylvania Station New York (1910)
Year in Operation: 1910
Sector: Transportation
Subsector: Rail, Transportation Terminal
Status: In Operation
Type: New Facility
Description: The original Pennsylvania Station New York, between W31st and W34th Street and 7th and 8th Avenues. Key hub of a program of railroad improvements by the Pennsylvania Railroad designed and built between 1904 and 1910. The program connected the Railroad's Harrison (NJ) yards across the Hackensack River (via the Portal Bridge) across the Meadowlands through Bergen Hill (NJ) by tunnel, under the Hudson River through two North Tunnel tubes and into Penn Station. From the East, the program connected the Western terminus of the Long Island Railroad near Hunter's Point Queens under the East River through four new single track tunnels and into Penn Station.
Delivery Method as described in the country where it's located: Design Build Finance Operate Maintain
Is the project still active: Yes
Comments: Permissions were obtained from state and federal governments to cross navigable rivers in New Jersey and to tunnel under Manhattan, and under the Hudson and East Rivers. The permissions obtained were without limit on time. The concession ended with the bankruptcy of the Pennsylvania RR (Penn Central RR) in 1970.

Project Locations

Address: 237 West 33rd Street
City: New York
State: New York
Country: United States of America

Souces of Project Support (Non-monetary)

Checkbox Checked Access to Land: Permits to build along the 12 mile stretch from Harrison NH to 34th St, and from Queens to 34th St.

Souces of Project Support (Monetary)

Checkbox Checked

From Private Capital Markets Directly to Producers as Debt: Pennsylvania Railroad funded the program, and ran rail service into Penn Station from the east and the west between 1910 and 1970. The initial construction cost of the entire program was $114 million. Long term O&M costs between 1910 and 1970, when Penn Central RR entered bankruptcy are not known.

Checkbox Checked

From Producers as Equity

Project Delivery & Finance Method

Project Delivery:
Design Build Finance Operate Maintain (All Private Finance). Public Sponsor contracts for initial design, construction, and for long term operations and maintenance with a single entity. At the end of the term, Public Sponsor regains control of the facility.
Is there an independent checking engineer? No
Project Finance Method: All By Private Sponsor

Procurement Approach

Project Component
Qualifications
Based Selection
Request for
Qualifications
Request for
Proposals
Invitation
for Bids
Unsolicited
Proposals

Term for Key Components & Forms of Contract

Project Component
Years
Quarters
Combined Term: Initial Design, Construction, O&M Period
60
0
Forms
Description
 
 

Project Value (If and As Known)

Date of Estimated Project Value: November 30, -0001
Project Value
Hard Cost
Hard & Soft Costs
Pre-Feasibility (Public Sponsor Expense)
(none)
> $50 Million US
Construction
$100-250 Million US
$100-250 Million US

Warning!!!

You are about to delete: .

Confirm Deletion Cancel