Cuomo’s Penn Station P3 Retail Concession Deal Unlikely

Gov. Andrew Cuomo, in announcing his $3-billion redevelopment of Penn Station last January, said revenue from retail concessions would support the financing of the complicated project as a P3, with private investors taking the full revenue risk. There are more passengers using the commuter rail station than are using all three of New York City’s major airports combined, he said. So he announced there would be only limited involvement by taxpayers.


About Bill Reinhardt

Editor of Public Works Financing newsletter
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