Gateway Development Commission (GDC) has taken over the responsibility of project sponsor for the Hudson River Rail Tunnel PPP project. GDC will take over from the Port Authority of New York and New Jersey prior to a Full Funding Grant Agreement with the federal government.

The project will build a new two-track passenger rail tunnel connecting to Penn Station New York and fully rehabilitate the existing 110-year-old tunnel. 

GDC has also started the preparation work for the Hudson Tunnel Project. The preparation work involves digging 'test pits' on 30th Street in Manhattan. The site will be the northern boundary of a large ventilation shaft for the new Hudson River Tunnel. The preparatory work confirms the location of Con Edison cables feeding electricity into Manhattan and will ensure future construction of the ventilation shaft does not cut, damage, or otherwise disturb these cables.

Earlier the project's Contracting Authority had released a new financial plan in which estimated costs of the Hudson Tunnel project increased US$275 million, reaching an overall cost of US$11.6 billion. The updated 2020 financial plan includes a continued local share construction cost commitment of US$5.55 billion from the states of New York, New Jersey and the Port Authority of New York & New Jersey. Amtrak has committed US$1.3 billion to the project.

The purpose of the Project is to preserve the current functionality of Amtrak’s NEC service and NJ TRANSIT’s commuter rail service between New Jersey and Penn Station New York (PSNY) by repairing the existing North River Tunnel; and to strengthen the NEC’s resiliency to support reliable rail service by providing redundant capability under the Hudson River for Amtrak and NJ TRANSIT NEC trains.