By rosebell
In order to advancing the Hudson Tunnel Project (HTP), a Full Funding Grant Agreement with US$6.88bn value was concluded between Gateway Development Commission (GDC) and Federal Transit Administration for and it closed on US$4.06bn in loans from the Build America Bureau to finance the local share of the project.
Following the White House’s decision last month to grant the US$6.88bn, this official signing was done, whereas the GDC now has the entire $16bn commitment required to complete the HTP and involves US$12bn in federal funding – the largest federal funding commitment to a rail project in modern history.
Considering that the $16bn cost is due to be split 70/30 between the federal government and the project’s local partners, New York, New Jersey, and the Port Authority of New York and New Jersey, this arrangement saves the local partners billions of dollars compared to the original plan to split the project costs 50/50.
According to Senator Charles Schumer: “After many false starts and obstacles placed in our way, Gateway is full speed ahead with billions from FTA ready to go and be used for critical work and construction.Gateway’s future is assured and the most important public works project in America is all systems go.”
Progressing heavy construction and tunnel boring by GDC will be allowed after securing the funding.Including construction of the tunnel passing through the Palisades in New Jersey and through the Manhattan bulkhead beneath Hudson River Park, and the order for the first TBM, GDC will have granted contracts for more than US$5bn by the end of the current year.
In the coming weeks, heavy construction will begin on the Hudson River Ground Stabilisation Project, which will stabilise the riverbed on the Manhattan side of the Hudson River to enable the TBMs to excavate the new tunnel.
Construction of the new 3.9km two-tube Gateway Tunnel under the Hudson River, between Newark, New Jersey, and New York City’s Penn Station, as well as refurbishing Amtrak’s existing 112-year-old North River rail tunnel, which was badly damaged by Hurricane Sandy in 2012, are the contents of HTP.
The scheduled date for inauguration of the new tunnel will be 2035 and the full rehabilitation of the existing tunnel is due to be complete by 2038.
In November 2023 construction commenced on both sides of the river and it is expected to create 95,000 jobs and generate US$19.6bn in economic activity.
In order to providing a link to the new tunnel portal and an access point for TBMs, in New Jersey, the Tonnelle Avenue Bridge and Utility Relocation Project is building a new road bridge, whereas in Manhattan, work is undergoing on the Hudson Yards Concrete Casing Section 3 Project that will preserve a rail right-of-way to link the new Hudson Tunnel to New York Penn Station.
