Thursday, December 15, 2011

Amtrak Says It Needs New York Station That May Be Too Costly

For Amtrak to move more passengers on trains between Washington and Boston, its only profitable route, it must move out of New York’s Penn Station, said Drew Galloway, assistant vice president for the eastern region.
The new space it covets is across the street, where New York state and two developers plan to transform the 97-year-old James A. Farley Post Office into a $1 billion train hall and retail complex.
The rub: Officials at U.S. taxpayer-subsidized Amtrak, which lost $1.3 billion last fiscal year, say they can’t afford to leave Penn Station, which the railroad owns, unless their new home is effectively rent-free. Continued

No comments:

Post a Comment