The estimated cost for the proposed Hudson River rail tunnel has climbed to $11.6 billion and its start date was pushed back to 2022 according to an updated financial plan released by the Gateway Program Development Corp.
The cost increased by about $275 million while planners await an environmental sign-off and face uncertainty about federal funding, according to the project’s latest financial plan.
The $11.6 billion figure is almost 3 percent higher than the most recent estimate of $11.3 billion — a figure that was adjusted down from $12.7 billion after planners made project adjustments, in part to increase chances of a federal cost share.
Bloomberg reported that President Donald Trump’s administration, though, has said New York and New Jersey, and not the federal government, should bear a higher cost burden because the tunnel would serve the Northeastern U.S. and New York City commuters. The planners pushed back the start date one year, and that relies on securing approval this year for a draft environmental impact statement that was submitted for final consideration in February 2018.
New York, New Jersey and the Port Authority of New York and New Jersey have pledged $5.55 billion for the tunnel, a portion of Amtrak’s broader Gateway proposal to improve New York City-area train service. Amtrak, the national passenger railroad, has promised $1.3 billion.