NEW YORK (WABC) -- There's a big boost for mass transit in the New York and New Jersey area.
The Biden administration just announced $4.5 billion for the Hudson River Tunnel project and to modernize Newark's aging Penn Station.
It's part of a $16 billion project to improve train travel all across the northeast.
Newark's Penn Station has long been considered a crown jewel in the transportation system, but leaders say it's one that has been neglected.
Officials now say they have the money in the bank to bring the station up to the 21st century.
Senator Cory Booker praised the Biden administration for the federal funding.
The money, $59 million of it, will go toward elevator, escalator, and platform renovations at Newark Penn Station.
$3.8 billion will renovate the Hudson River Tunnels that get trains back and forth from New Jersey to New York.
Major track and bridge improvements will be completed as part of the $117 billion investment for the project that spans from Washington, DC to Boston. New York and New Jersey are also contributing funding along with several other states.
"The patience of the New Jersey taxpayer has finally been rewarded today. New Jersey taxpayers this a day for you and a day for all of us who have worked so hard to make this project possible to say a sense of thank you and gratitude," Senator Cory Booker said.
"This is the largest investment in federal dollars for any mass transit project in the modern history of the United States," said Kris Kolluri, CEO, Gateway Development Corp.
"This generous award, made possible by the Biden Administration's Infrastructure Investment and Jobs Act, allows us to significantly advance two major infrastructure projects that have long languished prior to the Murphy Administration," said NJ Transit President and CEO Kevin S. Corbett. "Delco Lead and Newark Penn Station are just two of the more than 100 vital projects within our $17 Billion Five-Year Capital Plan, transforming our transit system and the customer experience for generations to come. We are grateful to the USDOT and the Federal Railroad Administration for this critical funding, and thank Senator Booker and our entire Congressional delegation for their tireless advocacy for public transportation in New Jersey."
President Joe Biden spoke out on how much $16 billion of investment will mean to travel along the northeast corridor from Washington, DC to Boston.
"We're also investing $9 billion to replace over 1,000 trains and train cars with state-of-the-art equipment, including electric trains, made in America," Biden said.
Biden made a stop at an Amtrak facility in Delaware, applauding workers for their commitment over the years and promising the new money will benefit them as well as the 800,000 commuters who use the corridor daily.
"This outdated infrastructure leads to over 4,000 hours of delays each year on Amtrak," Biden said.
Officials hope to have the Hudson River Tunnel completed by 2035 and that the improvements and upgrades should be done by 2038.