Halmar finishes Yankee Stadium station on the MTA's first transit P3

Halmar has completed a major accessibility upgrade at the 161st Street-Yankee Stadium subway complex in the Bronx. The contractor announced the milestone in a news release on 15 October, and Construction Dive covered it on 19 October. The work is part of a $965.26 million Metropolitan Transportation Authority programme covering 13 New York City subway stations, and Halmar says all the new vertical transportation systems at Yankee Stadium are now running.

How the deal is structured

Halmar's release describes this as the MTA's first public-private partnership for transit, and says its design-build-finance-maintain model is unique for the authority. Rather than paying a contractor to build and walking away, the MTA has a private party financing the work and maintaining the assets afterwards. The appeal for an owner is a single counterparty that answers for both delivery and upkeep, which shifts some of the long-term risk on vertical transportation performance away from the public balance sheet.

The roles break down like this:

- Elevated Accessibility Enhancements holds the prime contract as concessionaire

- Halmar Infrastructure Development is the developer and financial sponsor

- Halmar International leads delivery

- Forte Construction handles the civil work

Five of the 13 stations get replacement work and eight get new vertical circulation such as lifts. Nanuet, New York-based Halmar is aiming to wrap up the other 12 stations in early 2027.

Why it matters beyond one station

Accessibility retrofits in a working subway are slow, awkward jobs: live trains, tight footprints and old structures. Packaging 13 stations into one long-term P3 is the MTA's test of whether bundling and private finance can speed that up. If the rest of the programme lands on schedule, it gives the authority and other US transit agencies a reference case for using availability-style deals on asset upgrades, not just on new-build megaprojects.

A busy few days for P3 delivery

Halmar's announcement came on the same day, 15 October, that Fort Lauderdale opened its $666 million Prospect Lake Clean Water Center, a P3 with Kiewit as design-builder, according to Construction Dive. Earlier this year Tennessee also picked a team for a $9.2 billion interstate choice-lanes P3 concession, according to Construction Dive. Alternative delivery is spreading from toll roads into transit and utilities.