Tunnel terror? Price of Hudson River Tunnel Project increases, completion further awayWritten by RT&S Staff
Shortly after it was announced that the cost of the Hudson Tunnel Project had increased by another $2 billion, the governors of New York and New Jersey doubled down on their funding commitment.
The Gateway Development Commission said pandemic-related inflationary pressures, delays from the Trump administration, and an increase in federal interest rates are behind the rise in cost, which now stands at $16 billion. The Commission also announced the project will not be completed until 2038. The original deadline was set at 2031.
Still, New York Gov. Kathy Hochul said the state remains committed to deliver “21st century infrastructure worthy of New Yorkers.” New Jersey also stood firm on its funding commitment. Both states are responsible for 25% each, with the federal government handling the rest of the funding.
New York’s Second Avenue Subway Project was one of the most expensive rail projects in the world at a cost of $6 billion, or $2.5 billion per mile. The new Hudson River tunnel is 4.5 miles long and will be $14 billion, computing out to $3 billion per mile. Refurbishing the existing tunnel is marked at $2 billion.
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