In their bid to remake Penn Station, one developer has submitted a whacky proposal
Penn Station, the busiest and most hellish passenger transport facility in North America, is undoubtedly due for an upgrade. But funding for Penn Station’s much-needed renovation is still out of reach even as passenger numbers are expected to rise to record levels in the coming years.
To combat the cost of station’s redevelopment project, developer Brooklyn Capital Partners has proposed bringing a 1,200-foot amusement ride dubbed "The Halo" to the roof of Madison Square Garden or the back of the Farley Post Office, the Daily News reports.
To put that into perspective, the ride would rise about as tall as the Empire State Building. The open-air structure would contain 11 gondolas capable of reaching a speed of 100 miles per hour. Brooklyn Capital Partners proposes asking the rather lavish sum of $35 a ride.
Constructing this urban amusement park would cost an estimated $637 million and potentially attract 7.8 million customers annually, all while providing Albany up to $38 million a year through a ground lease payment plan.
For Alexandros Washburn, the president of Brooklyn Capital Partners, the construction of "The Halo" is "the final click of the Rubik’s Cube" providing a market-based solution to a deteriorating public transport issue.
According to the Daily News the amusement project is far from becoming a reality. (No surprise there). The ride doesn’t conform to the Request for Proposals for the site. Additionally, Brooklyn Capital Partner faces stiff competition from Vornado Realty Trust and Related Companies for the renovation of Penn Station.
- Builders pitch free-fall ride atop Penn Station in repair project [NYDN]
- Penn Station's $3B Renovation Plans, Revealed! [Curbed]
- Developer Hopes to Make Penn Station Area Less Hellish [Curbed]
- All Penn Station coverage [Curbed]