Amtrak reveals US$90m Baltimore Penn Station investment
Amtrak has reached deal for Baltimore Penn Station with the execution of a master development agreement with Penn Station Partners to redevelop and expand the historic location.
Amtrak plans to invest up to $90 million in improvements to the historic station as part of the deal, including expansion and modernisation to accommodate passenger growth and significantly improve the customer experience.
“By investing in the modernization of Baltimore Penn Station, Amtrak seeks to transform central Baltimore into a premier regional transportation hub that will provide new amenities and transit connections,” said Amtrak president, Richard Anderson.
“This work is part of Amtrak’s ongoing efforts to improve the customer experience and grow passenger rail.”
Planning and development due diligence have been underway since January 2018, following Amtrak’s announcement of Penn Station Partners as the selected Baltimore Penn Station master developer.
The Baltimore-based developer partnership is led by Beatty Development Group and Cross Street Partners, along with a local and international team of highly qualified planning, design, and construction firms.
Penn Station Partners was selected through a competitive procurement process based on their proposal, and commitment to partnering with Amtrak and the City of Baltimore to transform the area into a vibrant multi-modal hub featuring the historic station at its centre.
Amtrak and Penn Station Partners are currently advancing a vision plan for the station and surrounding Amtrak properties in partnership with local stakeholders and the community, called Next Stop Baltimore Penn Station.