Currently, the project is expected to cost $ 6.3 billion for 1.5 miles of new subway tunnel, which will include three new stations on 106th Street, 116th Street and 125th Street. The MTA hopes that federal grants will cover half of the project with “local sources” making up the other half.
MTA officials blame the Trump administration for stopping the projects by sitting on paperwork for two years. The organizers of the Gateway project, another major project in our region, also complained that the Trump administration stopped progress by not approving routine, but required documents.
“We are very, very anxious and are pushing the administration hard to accommodate our request,” Hochul said. “Hopefully approvals will very soon allow us to announce the start of it in 2022, we will be able to get it done. “(An email to federal DOT officials asking what the current status of Second Avenue is) the metro is and what the timeline for moving it forward was not immediately returned.)
The Federal DOT’s website, last updated in May 2021, rates the project medium-high, meaning that federal officials believe the MTA will be able to pay its share, even though it says the agency was “optimistic” about taking into account the cost of capital, the growth of capital income and the growth of ticket revenue.
Last week, the MTA announced that it would not raise fares next year in an attempt to lure riders back, although the MTA’s CFO recommended raising fares in mid-2022, 2023 and 2025 to avoid future deficits, which put the MTA ‘ one on uncertain economic basis.
The next phase of the Second Avenue subway is haunted by cost overruns and long delays in the first phase. The New York Times called it in an article on expensive work and wasted resources for the “Most Expensive Mile of Subway Track on Earth.”
The current acting chairman, Janno Lieber, who was previously head of construction at MTA, does not want that moniker to hang over this phase of the project.
“By moving this thing forward, we want to make it different, smart and hopefully more efficient than some of the projects in the past,” Lieber said.
Although asked what would be different, he said the project would be a design-building project, a construction jargon to hire the same company to design and build the project, rather than get a company to design it and then let a separate company build. that. MTA would also offer not only the cheapest contractor but also the most time efficient one.