Thursday, July 27, 2006

Another Tunnel?

From the Star Ledger:

$1 billion is earmarked for rail tunnel to Manhattan

A decades-old dream of digging a second rail tunnel under the Hudson River to Midtown Manhattan will gather momentum today when the Port Authority of New York and New Jersey is expected to approve a $1 billion authorization for the megaproject.

Agency officials say the huge outlay is just a beginning -- by year's end they hope to designate another $1 billion to the tunnel as part of the agency's upcoming 10-year capital investment plan.

After years of visionary talk and little action, the Port Authority's anticipated $2 billion commitment represents a massive down payment on long-stalled plans to ease frustrations over rush-hour congestion delays by doubling capacity from the roughly 42,000 commuters each workday morning.

Agency officials hope their commitment ultimately will spur the federal government to fund at least half of the second trans-Hudson rail tunnel's estimated $6 billion price tag.
Gov. Jon Corzine, a long-standing supporter of the additional tunnel, wants construction to begin in 2009. Completion of the tunnel, which will run adjacent to the existing one, is not expected until 2016 -- at the earliest.


Blogger Metroplexual said...

My only problems with this is that it is largely going to favor job creation in NYC and not our urban centers. It is also being funded through the NJTPA (WWW.NJTPA.ORG)Transportation Improvement Plan which was endorsed earlier this year.

The other problem is currently the jobs are on the east side and this thing is supposed to deliver people around Macy's. It should have gone to Grand Central Station.

7/27/2006 06:22:00 AM  
Anonymous Stan said...

Finally! I'll be able to take an express train to Macy's in the city if they are out of $300 jeans in Short Hills Mall.

7/27/2006 06:57:00 AM  
Anonymous Anonymous said...

I have no idea what it costs to build a tunnel, but why do I think it's going to end up somewhere well north of $6 billion?

Oh yeah, because it always does.


7/27/2006 07:07:00 AM  
Anonymous Anonymous said...

And they still haven't built the rail tunnel from Jersey to Long Island, which was what the bloody Port Authority was created to do in the first place!!!

(Which would get trucks off the Turnpike and reduce pollution in both NY and NJ...)

7/27/2006 09:08:00 AM  
Blogger chicagofinance said...

Anonymous said...
I have no idea what it costs to build a tunnel, but why do I think it's going to end up somewhere well north of $6 billion?
Oh yeah, because it always does.
7/27/2006 08:07:36 AM

Yeah talk to Tip O'Neal and his Big Dig.

7/27/2006 09:49:00 AM  
Anonymous Anonymous said...

When they get finished with this
one they will be going to the
record books.

This will make the Boston dig look
look good.

7/27/2006 01:53:00 PM  
Anonymous Anonymous said...

My understanding is the "Torch"
will act a the financial consultant.

7/27/2006 01:55:00 PM  
Anonymous Anonymous said...

all the low lifes will come out
from under the rock on this one.

They will all want to dip their

7/27/2006 01:59:00 PM  
Blogger Space Ghost said...

Its not correct that jobs are necessarily on the East side. Midtown West is developing and other areas are also develping as job centers. There is already an existing mass transit infrastructure in NYC (the subway), so I can see why the tunnel doesn't need to go to Grand Central.

It would also be nice to have more rail access to NYC from NJ, and possible upgrades to existing lines.

The downside is the cost, which is huge as is, and is likely to escalate, because engineering projects of this kind always do.

Maybe it would be cheaper just to buy the existing lines from Amtrak and shut down the Amtrak trains !!

7/27/2006 04:42:00 PM  

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