Halmar was picked to be the master developer of Penn Station and its plan leaves Madison Square Garden in place. The rendering above was from an earlier redesign plan released by the developer. No new renderings were released in conjunction with the announcement on May 20.
Halmar was picked to be the master developer of Penn Station and its plan leaves Madison Square Garden in place. The rendering above was from an earlier redesign plan released by the developer. No new renderings were released in conjunction with the announcement on May 20. ( Photo: Halmar)

The American subsidiary of Italian firm ASTM was unveiled as the winner to develop a new Penn Station, with plans to develop a new grand entrance on the Eighth Ave. side of the nation’s busiest rail hub. Its bid beat out two other competitors.

Halmar Tapped by Amtrak for $8 Billion Penn Station Redo; MSG Won’t Have to Move
20 May 2026 | 06:00
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The Trump administration announced that it will rebuild Penn Station with Madison Square Garden remaining on top, but reclad in a “classic look” and with a new train hall on Eighth Avenue where the Madison Square Garden theater is now.

A consortium led by Halmar International was selected to be the Master...

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