WASHINGTON — According to a wire service, Amtrak and the Capital District Transportation Authority of Albany, N.Y., on Wednesday signed a 50-year lease for the Rensselaer rail station, clearing the way for the new $53.1 million facility to open its doors.
The 80,000-square foot station will replace the nearby one-story yellow-brick station, which currently serves 630,000 passengers annually. It is the 10th busiest station in the U.S. and carries many state lawmakers and government officials to and from Albany.
It has been sitting empty largely because of the impasse over the lease.
The CDTA board approved the deal 6-0. Under the agreement, Amtrak must pay a $ 50,000 annual occupancy fee. Amtrak’s annual operating cost for the station is estimated at $430,000.
Amtrak’s recent financial woes had left some doubts that the rail carrier would be able to sign a costly new lease.
“I am glad that both parties could come together on a fair and final lease agreement. Amtrak’s presence in the new station can now begin to serve as an anchor for new and existing business and passenger travel throughout the entire upstate New York region,” Rep. John Sweeney, R-Clifton Park, said Wednesday.
Amtrak officials had no immediate comment.
The new station has faced some early problems. A state audit released in August revealed the project was plagued by cost overruns that created a $19 million budget gap and delayed construction by two years.
Amtrak will take up about one-third of the space in the station. It will also be responsible for much of the maintenance, security and utilities.