Hello,

Governor Hochul’s plan to allow Vornado Real Estate to build 10 massive towers around Penn Station is – to put it plainly – a trainwreck. Vornado Realty CEO Steve Roth recently backed away from the plan to build the towers, showing that we cannot rely on megatowers of empty office space to fund desperately needed improvements for Penn Station.

Yet, Governor Hochul said she still wants to push her plan forward despite this news.

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As a reminder, Hochul’s Penn plan has:  

• No guarantees for transit improvements
• Barely increases the city’s affordable housing stock
• Diverts millions of dollars in property taxes from the City, which pays for schools and public safety. 

What this plan DOES guarantee is that taxpayers will be left on the hook for a big bill when the towers don’t reap the tax revenue needed to fund Penn improvements, as the City’s Independent Budget Office said earlier this year.

Let’s demand a better Penn Plan that centers commuters, local businesses, and economic justice — not billionaires who are mega-donors to the governor’s campaign.

Best,

Trains Before Towers Team