The agreement comes days before a key vote on the project is expected.
People prepare to enter Penn Station ahead of the Memorial Day weekend in Midtown Manhattan on May 28th, 2021.People prepare to enter Penn Station ahead of the Memorial Day weekend in Midtown Manhattan on May 28th, 2021.Mayor Eric Adams and Gov. Kathy Hochul announced Monday that the city is on board with the state’s plan that allows developers to build 10 skyscrapers in Midtown Manhattan and use money from leases toward the massive renovation of Penn Station and its surrounding neighborhood.
The project calls for nine office buildings and one residential property, making it one of the state’s largest redevelopment projects. The project’s key developer, Vornado Realty Corp., will build the bulk of the properties. Monies from fees imposed on developers like Vornado will go towards improving upon existing amenities to the neighborhood and rehabilitate the aging train station.
The Empire State Development corporation is set to meet Thursday to vote on whether to approve the project’s financial terms and scope of work. The final vote goes to the Public Authorities Control Board, another quasi-government agency whose members include the state’s budget director Robert Mujica, who’s been supportive of the project, as well as state Sen. Leroy Comrie, who has expressed more skepticism about the plan.
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