By CARLO SCISSURA
NEW YORK DAILY NEWS |
JAN 29, 2020 | 10:00 AM
Gov. Cuomo’s plan to complete the ongoing transformation of Penn Station is a major step forward for New York City and the millions of office workers, commuters and the general public who interact with that immediate area on a daily basis.
For far too long the Penn District, anchored by one of the city’s most iconic and important transportation hubs in the Western Hemisphere, has been handicapped by stop-and-start development. Meanwhile, new neighborhoods like Hudson Yards rise on the far West Side and competing business districts like Times Square, Grand Central and Lower Manhattan receive major upgrades. The result is these districts are able to attract innovative companies and the best workforce talent through new state-of-the-art office towers, exciting amenities and retail options, and major transportation infrastructure improvements.
But the tide is beginning to turn for the Penn District, which is the city’s clearest hope for prolonged economic development.
Now, through the governor’s Empire Station Complex plan, we will finally see a coordinated, comprehensive approach that will marshal a wealth of public and private resources to create a 21st-century district around a rejuvenated and expanded transit hub that New Yorkers can once again be proud of.
We are encouraged by what we feel the plan will address: transportation infrastructure, aging building stock, and community involvement.
First, improvements are already underway to alleviate congestion and overcrowding at Penn Station, the linchpin that holds the country’s Northeast rail corridor together. The station facilitates hundreds of thousands of riders through Amtrak, Long Island Rail Road, Metro-North and services some of the city’s busiest subway stations. Work is already progressing on the transformation of the Farley Post Office into a state-of-the-art transit hall serving LIRR and Amtrak riders, construction of a new LIRR entrance along 33rd St. and a new West End Concourse. Moving forward on the Gateway Project, one of the most critical infrastructure projects in the country, would also help.
The governor’s initiative to increase track capacity by 40% at Penn Station should help alleviate unsafe congestion and create a more pleasant, safer experience.
Second, we are encouraged by the commitment to improving Penn’s surrounding infrastructure. For decades, economic growth in this neighborhood has been unable to reach its full potential because of a poorly planned public realm and a serious lack of investment in modern office space.
By nearly every measure, the Penn District’s existing commercial space is outdated and struggles to compete with nearby district’s campus-like settings and amenities that are attractive to the tech, media and professional services firms that are constantly growing and looking for office space. The district has seen virtually no new development over the last 30 years and limited development since the 1960s.
On average, rentable office space in the Penn District is 87 years old, 50% older than in Midtown East and nearly twice the age of commercial space in neighboring Times Square. Whereas Times Square and Hudson Yards boast impressive Class A office stock inventories above 80%, the Penn District’s is merely 20%, according to data provided by CoStar, a commercial real estate information company.
We envision the governor’s plan kick-starting a district-wide revitalization, where developers and property owners can heavily invest in upgrading their buildings to meet 21st-century sustainability standards and offer the kinds of amenities and conveniences that contemporary companies seek.
Finally, we are encouraged by the governor’s commitment to a community-driven process, where local groups, stakeholders, elected officials and the private and public sectors can work together. It’s in everyone’s best interest to unlock the district’s full value to grow the city’s tax base, improve the transportation and public realm experience, and start the turn-around of one of the city’s most important destinations.
Ultimately, If New York City is going to compete with the global metropolises and fundamentally adapt to the challenges climate change will bring in the 21st century, while simultaneously retaining its status as the world’s center of business, arts and culture, it needs a revival of the Penn District.
Scissura is president and CEO of the New York Building Congress.
https://www.nydailynews.com/opinion/ny-oped-building-a-better-penn-station-20200129-v2eua2tp3vaw5lvpvfojmojq2e-story.html
