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Penn Station Plan Makes a High-Stakes Bet on the Future of Office Work

In a bid to reshape Midtown Manhattan, Gov. Kathy Hochul and New York State officials are pushing ahead with one of the largest real estate development projects in American history: 10 towers of mostly offices around Penn Station, the busiest transit center in the country.

The buildings would help pay for the renovation of the dreary underground station, the reason officials have said they are seeking the additions to the skyline. But the plan is moving forward amid severe uncertainty gripping the office market: Many companies are trying to reduce their real estate footprint as workers continue to clock in from home.

NY Times



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