Rail News

DATE

October 22 , 2021


Grand Central’s New Rail Hub to Be Managed by MTA Unit

Yahoo Finance (Bloomberg)
October 20, 2021  (US)

New York’s Metropolitan Transportation Authority is creating a subsidiary corporation to oversee a new rail facility below Grand Central Terminal that will connect Long Island commuters to Manhattan’s east side.

The East Side Access project is estimated to cut commuting times by extending the Long Island Rail Road into Grand Central. The commuter line runs between Long Island and Penn Station, located on midtown Manhattan’s west side.

The MTA’s board voted to approve the new subsidiary at its monthly board meeting on Wednesday. The new rail terminal is set to open December 2022 as the MTA struggles to bring ridership back to pre-pandemic levels. The LIRR carried 153,700 riders on Monday, a 47% drop from 2019.

“All signs seem to be pointing to expectations that work from home will have some -- we don’t know exactly how much, but it’s going to have some -- ridership impact and it’s going to be years before we work our way to 100%,” Janno Lieber, the MTA’s acting chief executive officer, said during Wednesday’s meeting. “So we do need to find new sources of revenue in tandem with our partners in the legislature and other major stakeholders.” The MTA is the largest public-transportation system in the U.S. and includes New York City’s subways and buses, the Long Island Rail Road and Metro North Rail Road, which connects the city to its northern suburbs. The MTA already has subsidiaries that manage those systems. This action would create another entity just for the new terminal underneath Grand Central.

New Positions

The subsidiary will oversee the new 350,000-square foot terminal, which includes eight new rail tracks and 25,000 square feet of retail space within a concourse below Grand Central. A private operator will manage and maintain the hub. Long Island Railroad employees will take care of the rail work, creating about 210 new positions.

Source
https://finance.yahoo.com/news/grand-central-transit-hub-overseen-123523380.html

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