New York Penn Station renovation will be led by Penn Transformation Partners. The team includes Halmar and Skanska. It will serve as the project’s private Master Developer. This is reported by the railway transport news portal Railway Supply.

New York Penn Station renovation names P3 team
Photo: Amtrak

U.S. Transportation Secretary Sean P. Duffy and the Amtrak Board of Directors announced the selection. According to the announcement, Penn Transformation Partners will build a brand-new, world-class station. The station is intended to give daily commuters and tourists a more seamless travel experience. It will serve as a gateway into America’s largest city.

New York Penn Station renovation scope

The New York Penn Station transformation will include a new train hall. It will have a grand entrance on Eighth Avenue. The project also calls for more open concourses. They would replace cramped and deteriorated passageways. It also includes improvements to the station’s existing underground structure. Track capacity will expand, including at least limited through-running on the regional rail network.

Also, the scope includes new retail options, improved wayfinding, and other passenger-experience upgrades. At the same time, Madison Square Garden will remain in place. New cladding is planned to give it a classical appearance.

U.S. Transportation Secretary Sean P. Duffy said:

“We took over the transformation of New York Penn Station because the project was behind schedule, over budget, and hopelessly mismanaged. One year later, we continue to hit major milestones at record speed,” said U.S. Transportation Secretary Sean P. Duffy. “In selecting Penn Transformation Partners and their innovative plan, we are one step closer to delivering a world-class travel hub that daily commuters and travelers have dreamed of for decades. Under President Trump’s historic leadership, the days of Penn Station’s cramped hallways, broken infrastructure, and snarled rail lines are numbered. 2027 can’t come soon enough.”

Penn Transformation Partners and project review

Special Advisor Andy Byford oversaw the competitive procurement process and bidder review. The assessment considered whether bidders could develop a best-value proposal. That proposal had to align with the station renovation and modernization goals. The review also considered potential new revenue streams for Amtrak. Those streams would leverage taxpayer investment in the new station. It also looked at concourse capacity and access.

In addition, the review examined safer and more efficient operations. It considered passenger-service growth and a world-class user experience.

Special Advisor to the Amtrak Board Andy Byford said:

“Everyone at Amtrak is thrilled to announce Penn Transformation Partners and even more excited that the project is one step closer to having shovels in the ground next year,” said Special Advisor to the Amtrak Board Andy Byford. “The rapid completion of a rigorous procurement process represents more than just delivering on a highly ambitious milestone; it demonstrates that Amtrak and USDOT are uniquely capable of making this vision a reality.”

Deputy U.S. Transportation Secretary Steve Bradbury said the redesign is intended to improve both the station’s appearance and its capacity.

“Not only is the winning redesign for New York Penn Station beautiful, but the changes to the station will more importantly increase the capacity of what is already America’s busiest transit hub, allowing commuters and visitors alike to reach their destinations more easily,” said Deputy U. S. Transportation Secretary Steve Bradbury.

Funding and next steps

Secretary Duffy and Federal Railroad Administrator David Fink also announced $200 million in additional funding for the New York Penn Station Transformation project. The funding will come through the Partnership-Northeast Corridor Program.

FRA Administrator David Fink said:

“FRA is investing $200 million to support critical design and permitting work on the New York Penn Transformation. The new station will be an architectural icon that fuels further development in the Nation’s financial capital while accommodating more passengers during critical rush periods,” said FRA Administrator David Fink.

Amtrak and NJ TRANSIT are also contributing additional funding for project development. According to the announcement, those resources give Byford and Penn Transformation Partners what they need to prepare for groundbreaking before the end of 2027.

With the Amtrak Board authorizing the next step after the Master Developer selection, the project now moves into contract negotiations. It also moves into permitting work, completion of the FRA-led Service Optimization Study, design advancement, and financial and commercial close. These steps are intended to precede groundbreaking by the end of 2027.

Historical context and public-private partnership

The announcement also noted the station’s historical context. The current iteration of New York Penn Station replaced the earlier classical structure. The decision to build it helped jumpstart the modern historical preservation movement. The new design draws from that lost architectural structure. It also fits with existing major elements at the site, especially Madison Square Garden and Moynihan Train Hall.

Getting the project underway has been a priority of the Trump Administration since taking office. In April 2025, Secretary Duffy announced that USDOT and Amtrak were assuming control of the Penn Station overhaul from the New York Metropolitan Transportation Authority. In May 2025, he appointed Andy Byford as Special Advisor. The role involves overseeing the effort through a master developer public-private partnership.

In August 2025, USDOT and Amtrak released the project schedule. They also announced a $43 million federal grant to jumpstart the work. That grant supported project development, the master developer solicitation, permitting, and preliminary engineering.

In October 2025, Secretary Duffy announced the selection of advisors for the public-private partnership structure and agreements. Hunton Andrews Kurth LLP was named Legal Advisor. KPMG was selected as Financial Advisor. The AECOM/LIRO joint venture was named Project Manager/Construction Manager. AKRF was also added as the project’s environmental consultant.

Secretary Duffy, Special Advisor Byford, and Penn Transformation Partners will ensure the project is a model for delivering infrastructure through a public-private partnership.

News on railway transport, industry, and railway technologies from Railway Supply that you might have missed:

Don’t miss…Penn Station transformation names P3 developer team