DOT and Amtrak pick ‘master developer’ to lead $8 billion Penn Station renovation

Published May 20, 2026 9:45pm ET



The Department of Transportation and Amtrak on Wednesday selected the “master developer” team that will lead the $8 billion makeover of Penn Station in New York City.

Transportation Secretary Sean Duffy and Amtrak’s board of directors announced they had chosen Penn Transformation Partners, one of three qualified bidders, as the head renovator for the project. The group comprises two construction companies, New York-based Halmar International and Sweden-based Skanska.

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