MTA Partners with Chase & Vornado for Grand Central Revamp
Update: 2025-12-17
Description
Grand Centrals Train Shed Reconstruction: A Public-Private PartnershipThe MTA has announced a significant expansion of its public-private partnership to rebuild and upgrade the train shed beneath Park Avenue, supporting Grand Central Terminal. JP Morgan Chase and Vornado Realty Trust will oversee construction, with Chase managing the section from East Forty-sixth to East Fiftieth Streets and Vornado handling East Fiftieth to East Fifty-third Streets. The project, estimated at one billion dollars, will include rebuilding structural supports, waterproofing the roof, and upgrading public spaces. The partnership aims to accelerate the timeline and save taxpayers millions, while also transforming Park Avenue medians into more welcoming, park-like spaces.
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