The long-delayed Hudson (NYSE:HUD) River rail tunnel construction is set to accelerate, thanks to an additional $3.8 billion in federal funding. The next phase of the $16.1 billion Gateway project is expected to be announced by Senator Chuck Schumer and Transportation Secretary Pete Buttigieg. This project, overseen by the Gateway Development Commission, includes constructing a concrete casing under Hudson Yards in Midtown Manhattan for trains leading to Pennsylvania Station.
Simultaneously, work will commence on realigning a New Jersey highway to facilitate tunnel excavation. Two large boring machines will be used to carve a path under the river into Manhattan's bedrock. The two-track Gateway tunnel, with digging set to begin in 2025, is scheduled for a 2035 opening.
The project has faced political hurdles for over 15 years and saw delays during President Trump's term. However, it has gained traction under President Biden's administration. Schumer has secured more than $10 billion in federal funds for the project, and Buttigieg has deemed it a national priority.
The existing tunnels' poor condition, which have not been renovated since former New Jersey Governor Chris Christie halted their renovation 13 years ago, underscores the project's importance. President Biden himself pledged $292 million towards the concrete casing, and Schumer announced a $6.88 billion grant from the U.S. Department of Transportation for the project.
New York and New Jersey have agreed to split the remaining costs equally. This agreement represents a significant step forward for a project that is essential for maintaining and improving transportation infrastructure in one of the nation's busiest regions.
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