Five years after Superstorm Sandy caused unprecedented damage to the New York City area, the Port Authority of New York and New Jersey recently announced the investment of approximately $1 billion to date for the recovery, protection, and rebuild of key agency assets.
The Port Authority also released plans to invest the remainder of the estimated economic losses caused by the storm in the coming years, which sits at approximately $2.8 billion.
Among the projects currently in progress includes electrical substation flood protections and runway drainage systems for LaGuardia Airport; permanent and deployable flood barriers at PATH’s Grove Street, Newport, Exchange Place, and Hoboken Stations; flood barriers at the Holland Tunnel; and the installation of a comprehensive three-tier water intrusion protection system at the World Trade Center site.
“We are laser-focused on ensuring the transportation assets we own and operate are rebuilt to standards that reflect new and evolving expectations of severe weather and climate change, so that we minimize the risk of major disruptions and shutdowns when major storms hit,” Port Authority Executive Director Rick Cotton said.
Cotton continued, stating that the agency would continue to review, evaluate and explore innovative ways to protect its assets and ensure it has the best-in-class systems in place at its facilities.
Throughout the past five years, the agency has completed more than 80 different projects, including work on the Port Authority Trans-Hudson (PATH) system and the Holland Tunnel. Sixty-five additional capital projects are either in progress or are scheduled to begin within the coming months.
The Port Authority said the Federal Transit Administration (FTA), in conjunction with the Federal Emergency Management Administration (FEMA), will continue to provide grant funding for a number of recovery-related projects. When factoring in insurance payments, the funds are expected to cover the Port Authority’s estimated damage and resiliency costs.