"Top MTA officials announced on Tuesday the continuation of one public-private partnership and the launch of another to help rebuild the next two stretches of a train shed leading into the historic Grand Central Terminal. The MTA announced it has partnered with the bank JP Morgan Chase and the firm Vornado Realty Trust, to oversee construction work on the next two phases of the project."
"Chase will lead construction work on the second leg of the project, from East 46th to East 50th Streets, while Vornado will handle the third section, running between East 50th and East 53 Streets. The former had already helmed the first stretch of the reconstruction, which it undertook alongside building its new headquarters at 270 Park Ave, completed earlier this fall."
MTA formed public-private partnerships with JP Morgan Chase and Vornado Realty Trust to rebuild the next two legs of the Park Avenue train shed that carries Metro-North trains into Grand Central. Chase will oversee reconstruction from East 46th to East 50th Streets, and Vornado will handle East 50th to East 53rd Streets. The train shed extends from 42nd to 57th Streets and directs 98% of Metro-North trains to station platforms. The structure has deteriorated from long-term exposure to water, salt, and chemicals, causing concrete erosion and visible structural damage. The MTA has performed emergency repairs and says comprehensive renovation is necessary.
Read at www.amny.com
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