MIDTOWN, Manhattan (PIX11) — Construction is in full swing around Penn Station, both above and below ground.

There are also questions about the the financing of the state’s big development project in the area. New York City’s Independent Budget Office issued a report this month and wants details on the project’s cost and who will be paying.

Empire State Development is working on the project. The state said it will continue to work with the city and the community to address priorities, including a fair financial structure.

“Governor Hochul’s smart growth approach to the long overdue revitalization of the area around Penn Station ensures development occurs alongside public realm improvements, the creation of additional open space, and increased transit access,” said spokesperson Matt Gorton.

One of the final steps will include public approval.

Grand Penn Community Alliance is a new group of advocates that has also formed.

Executive Director Alexandros Washburn wants the state to consider another pathway.

“This is too important an opportunity to get it wrong. That neighborhood has what was the world’s greatest train station. We have to have that same ambition,” he said.

Washburn, a former chief with city planning, wants discussions to include the future of Madison Square Garden and rebuilding Pennsylvania Station at surface level. MTA projects are already on track within the station to improve access, widen the concourse and raise the ceiling. That should be done by the beginning of 2023.

Future track capacity is another part of the plan.

Gov. Kathy Hochul announced a new version of the area’s redevelopment project last year. It including affordable housing and office buildings which the state said will help pay for the project.