Amtrak and the Penn Station Partners development team headed by Beatty Development Group and Cross Street Partners unveiled plans to construct a three-level train terminal just north of the existing station on October 15, 2020. The new structure, which is meant to supplement the current building by accommodating all passenger-oriented functions with the expectation of increased traffic from the potential installation of a high-speed rail line, will be bordered by Charles Street to the west, Lanvale Street to the north, St. Paul Street to the east and the facility's railroad tracks to the south. The existing Penn Station's restoration is expected to begin in early-2021 with its upper levels converted into office space and restaurants and shops occupying the ground level.