The Trump administration took over the $7 billion renovation project back in May, and is issuing $43 million in federal grants to Amtrak to get the project going.
The DOT will begin soliciting proposals from developers in October and select a master developer for the site next May. Design work and environmental review will follow, with construction beginning by the end of 2027.
It was previously announced in April that Amtrak would take over Penn Station reconstruction project from the MTA, citing the MTA's inability to deliver the project on time and on budget. Both the MTA and Gov. Kathy Hochul expressed their support at DOT's takeover in April.
"One of the first things I raised with President Trump in January was the need to give New York City the beautiful Penn Station it deserves," Hochul said. "Those conversations successfully secured federal funding in April to advance redevelopment, allowing us to reallocate over $1 billion for other critical projects. With Secretary Duffy now advancing this project and requesting design proposals, New Yorkers are one step closer to a station worthy of this great city."
The design and total cost of reconstruction is yet to be determined, but Deputy Secretary Steve Bradbury said they want "an open, airy, bright station with open concourses."
"President Trump has a vision to make it a new gleaming station, he's a builder, this is a marquis crown jewel asset, it's right in the heart of New York City and it deserves a transformation," Bradbury said.
The DOT will have an open design competition starting this October through May of 2026 which will determine the final design of the station.
During Wednesday's news conference at Penn Station, Duffy did not rule out renaming the complex Trump Station.
"Is this going to be Trump station? I think that has a nice ring to it," Duffy said.
Duffy also addressed the congestion-pricing dispute between the DOT and MTA, saying, "it's in litigation."
Special Advisor Andy Byford is leading the redevelopment plans of Penn Station for what he said is the "complete top-to-bottom modernization and transformation of Penn Station."
He helped upgrade subway signals and introduced the OMNY payment system. Byford will also attempt to increase train capacity in Penn Station, where Amtrak, LIRR and NJ Transit all compete for limited track space.
"The transformation of Penn Station must be much more than bricks and mortar, it must be about making the station operationally sound, safe, clean and easy to navigate," Byford said.
Penn Station is Amtrak's No. 1 station in its national network of over 500 stations.
Duffy also announced on Wednesday morning that the Department of Transportation is also "reclaiming the management" of Union Station in Washington, D.C. to restore it.
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