New York Construction Report staff writer
The governors of New York and New Jersey have signed a Memorandum of Understanding (MoU) outlining funding for the Portal North Bridge and Hudson Tunnel projects on the Northeast Corridor (NEC).
The MOU outlines sources, uses, and timing of funding on behalf of New Jersey and New York for Phase One Gateway Projects: Portal North Bridge and the Hudson Tunnel Project. Signing this MOU advances the Gateway Program to its next phase. A new Portal North Bridge will replace the swing bridge built in 1910.
Phase One of the Gateway Program is funded by a combination of federal and local sources. On behalf of the states, PANYNJ’s total commitment for Phase One is $2.7 billion.
For Portal North Bridge, federal funding sources total approximately 60% of the total cost, leaving the States’ PNB Commitment of $772.4 million to be split by New Jersey and New York at $386.2 million per state. For the rest of the Hudson Tunnel Project, the States will similarly split the local share 50-50. The States intend to work with their partners and federal entities to aggressively pursue greater federal sources of funding for the Gateway Program through the Infrastructure Investment and Jobs Act.
“The Gateway Hudson Tunnel Project is vital to the Northeast corridor, and today’s announcement is a critical step forward in turning this vision into reality,” Hochul said.
“By signing the Phase One Memorandum of Understanding, we are establishing the framework to get this project over the finish line and are making good on our promise to modernize the state’s transportation infrastructure and create a mass transit system worthy of New Yorkers.”
A Notice to Proceed was issued to the Skanska/Traylor Bros PNB Joint Venture (STJV) earlier this year to build the bridge. The project is expected to take approximately five and a half years to complete.
The $12.3 billion Hudson Tunnel project includes construction of a new double-track tunnel on the section of the NEC from Bergen Palisades in New Jersey to Penn Station in New York City.
New Jersey governor Murphy called the agreement a pivotal milestone.
“Today marks a pivotal milestone toward the completion of the most significant transportation project not just in New Jersey, but in the entire United States,” he said.
“As we proceed with construction of a new tunnel under the Hudson River, we advance one step closer toward a New Jersey that is better connected and better positioned to reap the full economic benefits of our status as a regional crossroads.”
The $14 billion Phase One of the Gateway Project, which overall is expected to total approximately $30 billion, is funded by a combination of federal and local sources. PANYNJ’s total commitment for Phase One is $2.7 billion.
The agreement marks an important milestone to get the project fully funded by the end of the year.