Federal financing to build the $11.6 billion Gateway rail tunnel under the Hudson River could be in place by the end of 2022, with construction possibly starting 2023, said officials of the bistate agency that would build the project. Costs for the project include $9.8 billion for new tunnel construction and $1.8 billion to rehabilitate the old tunnels, for a $11.6 billion total.

The work is expected to be completed in 2035, said GDC interim executive director Frank Sacr. The project to augment and rehabilitate the two 110-year old tunnels received environmental approvals in May.