A report released by the Metropolitan Transportation Authority (MTA) Construction & Development found the agency has saved $3 billion on capital project delivery over the past five years.
The report, “Better. Faster. Cheaper,” the agency’s 2024 Year in Review and 2025 Strategic Plan, looks at MTA C&D’s progress since its founding in 2020 and lay out a plan moving forward on a docket of projects to be completed this year. The strategic plan arrives as the agency seeks funding of its proposed 2025-2029 Capital Plan, the largest State of Good Repair investment in MTA’s history. Officials said more than 90 percent of the proposed plan will be spend on improving and rebuilding the existing system, based on a system-wide evaluation in its Twenty-Year Needs Assessment.
Over the past five years, MTA C&D has transformed the way the MTA delivers capital projects for our riders. The result has been the fastest, cheapest, and most effective project delivery in MTA history. And we’re just getting started,” MTA Construction & Development President Jamie Torres-Springer said. “From an exciting slate of projects already on track for 2025, to an ambitious and achievable scope of work in our proposed upcoming capital plan, there’s never been a more exciting time to deliver a better public transit system in New York.”
The report said the agency saved more than $1.1 billion from improved contracting strategies, as well as saving $750 million from better upfront planning and smart design, $750 million from better project management, and another $400 million in insurance reductions.
Officials said the savings have allowed the proposed 2025-2029 capital plan to deliver more for riders while costing 4 percent less in inflation-adjusted dollars.