The first phase was built within budget, at $4.45 billion. Its construction site was designated as being from 105th Street and Second Avenue to 63rd Street and Third Avenue. Deep bore tunneling methods were to be used in order to avoid the disruptions for road traffic, pedestrians, utilities and local businesses produced by cut-and-cover methods of past generations. Stations were to retain cut-and-cover construction. The total cost of the line is expected to exceed $17 billion. In 2014, MTA Capital Construction President Dr. Michael Horodniceanu stated that the whole line may be completed as early as 2029, and would serve 560,000 daily passengers upon completion; however, , only Phases 1 and 2 would be completed by 2029. The line is described as the New York City Subway's "first major expansion" in more than a half-century. It would add two tracks to fill the gap that has existed since the elevated Second and Third Avenue Lines were demolished in the 1950s. According to the line's final environmental impact statement, the catchment area of the line's first phase would include 200,000 daily riders.