BBJ: Penn Station, midtown redevelopment projects could top $500M, begin this spring

By Melody Simmons
March 18, 2021

Public and private investment in the ambitious redevelopment of Penn Station and its surrounding neighborhoods could total close to $500 million.

Developers Penn Station partners and Amtrak unveiled the figure, along with new details of the large-scale project that has been retooled over the past several months in the wake of the Covid-19 pandemic, during a March 18 Greater Baltimore Committee online meeting with Baltimore’s business leaders.

It offered the latest glimpse in the ongoing efforts to convert the 110-year-old Beaux Arts train station into a modern-day transit hub anchored by new office and residential space and a high-speed rail line.

“This is really looking to reimagine the future of rail in the U.S. and how the U.S. looks at high-speed rail,” said Brian Traylor, a planner for Amtrak and member of the development team. “Once we do have the system fully deployed, there will be trains that will travel up to 160 miles per hour mph along the Northeast corridor.”

Included in the updates:

  • A new push to seek federal and state transportation funding to link the light rail into Penn Station and better connect the suburbs to Amtrak and MARC train lines.
  • Development of at least 250,000 square feet of new office space, much of it in an eight-story office and retail tower that will be located just off Charles and Lanvale streets.
  • Development of hundreds of market-rate apartments in a tower to be built next to the office tower.
  • Development of a modern, new train station off St. Paul Street that will service a new Acela high-speed rail line.
  • Adding high-speed Acela train tracks and rail platforms to the historic station footprint to link Washington, D.C. and New York in service through Baltimore.

The development team outlined the project during the March 18 Greater Baltimore Committee-sponsored webinar that is part of its ongoing Newsmaker series. They showed a series of renderings by design and architecture firm Gensler of the updates and additions to the Penn Station footprint that would convert it into a high-gloss, modern transit hub.

Read the complete article here.

Source: The Baltimore Business Journal

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