The preferred bidder selection enables Penn Transformation Partners to enter exclusive negotiation with Amtrak in order to finalize and execute the predevelopment agreement (the "PDA").  Order booking is subject to execution of the PDA.

The PDA will focus on finalizing contract negotiations, advancing preconstruction services and permitting, and advancing design through the end of 2027.  The PDA is intended to result ultimately in a public-private partnership project agreement between the Master Developer and Amtrak to implement the Project utilizing a design, build, finance, operate, and maintain delivery method.

The Penn Station Transformation Project is a major initiative spearheaded by Amtrak, in partnership with, and through support from, the U.S. Department of Transportation (USDOT) and Federal Railroad Administration (FRA), to modernize and enhance Penn Station, provide a world-class experience, improve safety and operational efficiency and accommodate increased train and passenger capacity. Penn Station is the busiest transportation facility in the Western Hemisphere, serving more than 600,000 passengers per weekday.