Of mega projects & budgets
A report shared Tuesday by the Trustees of the Gateway Development Corporation (GDC), a non-profit with board members representing Amtrak and the states of New York and New Jersey for the Gateway Tunnel project, emphasized once again the reasons why the planned tunnel replacement project is crucial.
The report from the Regional Plan Association – an urban advocacy organization that works in the tri-state area of New York-New Jersey-Connecticut – speaks about the dire consequences of not building Gateway.
"Facts matter, and the facts made clear in this report are that this region and this nation will lose billions of dollars, property values will plummet, and congestion and climate damage will get even worse if we allow the status quo of relying on a century old one-track-in, one-track-out system to continue,” the GDC Trustees said in response.
While the urgency to rebuild the tunnel between New York and New Jersey has been repeatedly stressed by both states, pooling together the project's estimated $20bn costs won’t be an easy task, even if phased over years.
Currently pitched as one of the largest infrastructure projects in the US, part of which will be procured as a P3, Gateway requires both federal funding and championing, other than private sector dollars. While both NJ and NY have come forward in 2018 to make their funding pledges and priorities clear, much more is still needed.
While the vast majority of the current US federal government’s policies have not veered towards priority infrastructure project funding, the hope is that these will be brought front and center in 2019. According to some reports, President Trump is ‘open-minded’ about setting aside federal funds on Gateway.
And as the work behind the curtains for Gateway progresses, let’s hope it can successfully hit any planned P3 milestones this year.