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If the state of New York invests in the Moynihan Station project, builders and developers must meet several conditions. That's the message Gov. David Paterson delivered when he addressed construction and real estate executives at a luncheon hosted by the New York Building Congress last week.  

The project — which calls for building a new station at the site of the existing Penn Station and James Farley Post Office — has faced numerous setbacks during the past decade, including the U.S. Postal Service's reconsideration of moving out of the building and Amtrak's withdrawal from the project.

However, the state now has made the station a "significant infrastructure priority" and wants project managers to not only create a new station, but increase rail capacity by expanding the number of tracks and platforms, Paterson said. MTA Long Island Rail Road, New Jersey Transit and Amtrak — which will occupy that station — must institute operational changes, as well, he said. In addition, the project must be coordinated in tandem with other development projects, including NJ Transit's Access to the Region's Core, and help revitalize the surrounding community, Paterson said.