MTA Construction & Development (MTA C&D) today outlined details of nearly $300 million in capital program cost savings as part of its 2023 Year in Review and 2024 Strategic Plan, which outlines initiatives to improve the delivery of capital projects and modernize the transit system better, faster, and cheaper. The report comes as the agency prepares to move forward on a major slate of vital capital projects to be funded by congestion pricing.
The Strategic Plan lays out initiatives MTA C&D it undertaking to drive down costs and deliver the ambitious capital program at scale, including innovative delivery models, bundling projects together, and cutting red tape, and shares results of those efforts.
In 2023, the MTA completed more than $7 billion in capital projects, the highest in MTA history. It also awarded more than $8 billion in new commitments, with those awards coming in 6.2% below the engineer’s estimate, saving nearly $300 million. The completions represent the full promise of C&D’s new way of delivering projects better, faster and cheaper, for example the completion of the following projects:
- Canarsie Tunnel rehabilitation phase completed ahead of schedule and under budget.
- Resiliency upgrades at the Coney Island Yard, completed on budget.
- LIRR Third Track completed on time and $100 million under budget.
- LIRR Penn Station 33rd Street Concourse completed on time and under budget.
- 28 projects completed since 2020 to make stations accessible to all under the Americas with Disabilities Act.
- On-time delivery of major projects that bring MTA infrastructure into a state of good repair including tunnel and infrastructure renewal on the Concourse Line tunnel in the Bronx and a project to upgrade track on the 63rd Street Tunnel under the East River used by the B subway Line.
-via Press Release