The MTA on Monday announced a massive multi-billion plan to elevate and innovate New York City’s transportation system over the next five years.
Transit officials said their proposed investment of $51.5 billion is “by far” the largest capital plan in MTA history, and includes $40 billion for NYC transit; $10.4 billion for LIRR and Metro-North railroads; and $3.3 billion for MTA bridges and tunnels.
The MTA says 2020-2024 Capital Plan will “create a faster, more accessible, and more reliable public transportation system.”
Patrick J. Foye , MTA Chairman & CEO said in a press release that it’s the most ambitious capital plan in the agency’s history, and builds on the success of the Subway Action Plan.
“This plan expands service, increases reliability, speeds up the system, and delivers the world’s largest-ever investment in accessibility, for both NYC Transit and the MTA’s commuter railroads, and at the end of this five-year period, New Yorkers will see a revitalized and modern system for the 21st century and beyond,” Foye said.
Here is a breakdown of how the money will be used in the subways:
Signal Modernization – $7.1 Billion
Subway Cars – $6.1 Billion
Station Accessibility- $5.2 billion
Station Improvements- $4.1 billion
Track Upgrades- $2.6 billion
Second Avenue Subway Phase 2- $4.55 billion
MTA Long Island Rail Road investment:
Track Upgrades -$1 billion
Station Accessibility and Improvements- $910 million
Signals and Switches – $364 million
Rolling Stock – $487 million
MTA Metro-North Railroad in New York State investment:
Grand Central Terminal Trainshed and Park Avenue Tunnel and Viaduct – $895 million
Stations Accessibility and Improvements – $621 million
Rolling Stock – $485 million
West of Hudson Improvements- $187 million
Harlem Line Capacity Improvements- $184 million
MTA Bridges and Tunnels/ The Triborough Bridge and Tunnel will receive $3.3 billion, and this is what the money will be used for:
Verrazzano-Narrows Bridge Upgrades- $1.1 billion
RFK Bridge Upgrades- $719 million
Throgs Neck Bridge Marine Protection – $144 million
Henry Hudson Bridge Reconstruction -$135 million
Tunnel Ventilation- $58 million
The MTA buses will get $2.5 billion for bus replacement and additions, and $109 million for customer experience improvements.
