The Real Estate Board of New York to Gateway Development Commission

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The Real Estate Board of New York (REBNY) is the City's leading real estate trade association representing commercial, residential, and institutional property owners, builders, managers, investors, brokers, salespeople, and others active in New York City real estate. REBNY strongly urges the continued federal funding of the Hudson Tunnel Project.

The Hudson Tunnel Project is essential to the functioning of the Northeast Corridor, which supports nearly 20 percent of the nation's GDP. The existing North River Tunnel is 116 years old, was severely damaged by Hurricane Sandy, and must be taken out of service for repairs. Without a new tunnel in place, the resulting service disruptions would ripple up and down the East Coast, costing the national economy billions of dollars, cutting intercity rail service in half, and increasing congestion, commute times, and emergency response delays.

Continuing to fund the Hudson Tunnel Project fulfills existing commitments and protects significant public investment. More than $1 billion in taxpayer funds have already been spent, and construction is actively underway at five major sites in New York and New Jersey. Halting or continuing to delay funding now would undermine that investment and delay urgently needed returns.

The Hudson Tunnel Project is also a powerful engine for job creation and economic growth. Current construction activity supports approximately 11,000 construction jobs and more than 20,000 jobs overall, generating $4.5 billion in economic output. Over the life of the project, construction will support 95,000 jobs and nearly $20 billion in economic activity, delivering good-paying jobs while strengthening the national economy.

The Gateway Development Commission has demonstrated strong stewardship of this investment. Since breaking ground in 2023, the project has met key milestones on time and on budget. Five construction packages are already underway, and additional work is set to begin this year. The project is advancing and prepared to move forward without delay.

Restoring and maintaining full federal funding for the Hudson Tunnel Project is critical to protecting the national economy, supporting the region's workers, and demonstrating that the United States can still deliver complex, transformative infrastructure. I urge the Commission to continue pressing for the full funding necessary to complete this vital project.