Port Authority Leased Land For Tunnel Project

HACKENSACK, N.J. (AP) — The Port Authority of New York and New Jersey paid $95.5 million to lease land for the Hudson River tunnel project a week before Gov. Chris Christie froze it.

The agency told The Record newspaper it signed a preliminary contract for the site in 2009. The agency said breaking the deal could have brought a possible lawsuit and substantial losses.

The 2-acre tract is a mostly vacant lot on 12th Avenue at 30th Street along New York City’s waterfront. It is owned by an investment group that includes Joseph Rose. Rose was a top official in the administration of former New York Mayor Rudolph Giuliani.

Christie scrapped the project because he feared cost overruns.

The Port Authority says it has been approached by several developers for use of the land.

(Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)


One Comment

  1. VY says:

    If the replacement is the #7 train going to the Secaucus Transfer NJ Transit Station in the Meadowlands, and the cost of that is $5.5 Billion, instead of $9 to 14 Billion for the original plan, then the funding should be as follows:

    The original NJ Transit tunnels would have had $3 Billion of Port Authority of NY & NJ money.

    Have the Port Authority put up the same original $3 Billion, and NY and NJ put up the other $1.25 Billion each.

    Put a Station near 23rd Street and 11th Ave (that NYC would pay for), then out to NJ with a station near the NJ waterfront for easy connection to the Hudson-Bergan Light Rail, then out to the Secaucus NJ Transit Transfer Station.

    Then add a very large park and ride garage connected directly to the NJ Turnpike right next to the Secaucus Transfer Station, with a massive NJ Transit Bus Terminal also connected to the Secuacus Transfer Station (to supliment NJ Transit Bus Service into the Port authority Bus Terminal on Manhattan’s westside, without needing to expand the Lincoln Tunnel or the existing bus terminal).

    But that makes too much sense for these politicians to go for it.

  2. Robert Senn says:

    lets forget about the hole it would be just to much money tobuild remember new york is not putting nothing in

  3. Devenio says:

    ” It is owned by an investment group that includes Joseph Rose.” Investigate Rudolph Giuliani. This seems a conflict of interest that Mayor Kill’em All just let happen. How much of a kick back did Mayor Gunsmoke get?

Comments are closed.

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