The story of Grand Central station is a story of American captialism and American Government working side by side and thriving together.
The first idea of Grand Central was a private enterprise idea of Commodore Vanderbilt in the 1860’s where he paid $100M of his own money to build the first major train depot at the spot; however, it is questionable if he would of had such deep pockets if not for the corrupt NY legislation in 1840’s that legalized his rail monopoly and whether he could ever of bought all the real estate without corrupt Tammany politicians selling NYC land to him at 5% of market value in exchange for political contributions and bribes. Nonetheless, it started the beginning of midtown NYC, it opened up the the idea of suburbs to working families and it created the predecessor to the modern airport.
After a couple decades of horrific street level pedestrian deaths and a massive 1902 train crash, the public demands for safety resulted in William Wilgus proposing a magnificent vision for an entirely subterranean train station using electric cars, funded by a retail bazaar and leasing of all above train rail space as a novel idea of real estate air rights. Thus the idea of the modern Grand Central was born.
It took $2B in today’s dollar to build Grand Central, NYC paid for most the sinking of rail lines so they could be covered over, and the whole enterprise was done as rail use was flourishing in and out of the location at the same time, roughly ten years later with great fan fare Grand Central’s doors openned on 2/02/1913.
From the 1910’s till the 1940’s Grand Central flourished like no other place in America, Vanderbilt’s rail company grew to astronomical value, the real estate in and around Grand Central the most valuable in all of America, and the luxury Pullman overnight long haul train travel service became the envy of the world.
A roundtrip NYC to Chicago trip on the 20th Century Limited was $1400 in today’s dollars, the train could reach close to 75 mph at certain points, was on-time always within 5 seconds, and the train had it own barber, manicurist, secretary services, mail box and telephone number, plus showers and queen size beds in the luxury Pullman suites.
Things changed dramatically in the 1950’s as highway systems and airports allowed people to travel independently and faster then rail. By the 1967, the $1400 roundtrip was now $48, the entire luxury long haul train service disappearing. The company that owned Penn Station and Grand Central, already had Penn Stationn demolished and had its eyes on Grand Central. It took herculean preservation efforts led by Jacqueline Onassis to save Grand Central. Even the landmark status was initiated refused as a infringement on private business.
Ed Koch was asked why demolition of Grand Central was not inevitable and said, “Central Park doesn’t support itself. God forbid we should ever think of (Grand Central) that way”.
After Onassis sucessful effort to stop the demolition of Grand Central, it took $400M via a government bonding secured by retail revenues to restore Grand Central. It was Peter Stangl, president Metro-North, after the city took ownership of Grand Central that transformed it from a homeless shelter and drug depot to a miraclous palace of commuter beauty. It took 10 years and by the late 1980’s Grand Central haf metamorphosed from a failed premium luxury long haul passenger depot into Americas grandest, biggest and busiest commuter terminal.
There is much more in Sam Roberts book, celebrities, amazing secrets of the station, famous employees and station interworking which makes this an amazing short read book of American history.