Amtrak reached commercial close for Baltimore Penn Station with the execution of a Master Development Agreement with Penn Station Partners to redevelop and expand the historic station.
Amtrak plans to invest up to $90 million in improvements to the historic station as part of the deal, including expansion and modernization to accommodate passenger growth and significantly improve the customer experience.
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 center.
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.
The first phase of rail infrastructure work at Baltimore Penn Station includes the renovation of an existing platform to bring it back into service and the construction of an additional platform.
The development framework and station area improvements in Baltimore will leverage additional Northeast Corridor infrastructure and capacity improvements, including the new Amtrak high-speed rail expansion effort currently underway. This project also complements ongoing Amtrak improvements at New York Penn Station; opening the new Moynihan Train Hall in New York; and further development of stations in Chicago; Washington, D.C.; and Philadelphia.
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