Sen. Charles Schumer says the federal government will award $83.3 million for a project to transform New York City’s main post office building into a rail gateway.

Schumer said Tuesday the funding will come from the American Reinvestment and Recovery Act.

The senator said the project would create thousands of jobs and kick-start development across the west side of Manhattan.

The new station is to be named after the late Sen. Daniel Patrick Moynihan.

It’s intended to increase capacity and restore some grandeur to the city’s main rail center. The Beaux-Arts landmark that was home to the original Penn Station was demolished in 1963. It was replaced by the Madison Square Garden arena.