When it comes to the Port Authority Bus Terminal in Midtown, retail just might be the answer.
JRT Realty Group and Cushman & Wakefield are working on a makeover of the much-derided bus depot that will look to re-tenant 150,000 square feet of retail at the property and add another 13,000 square feet along Ninth Avenue.
Around 125,000 people pass through the Port Authority Bus Terminal each day, according to the New York Post, and the sheer volume of foot traffic provides an opportunity to not only reposition the terminal and give it a long-overdue facelift — boosting its appeal to both retail tenants and the general public.
“That’s what we are changing,” JRT Realty CEO Jodi Pulice told the Post. “The perception.” Retail stores will be remodeled to fit a new, uniform design at the terminal, giving it a “tighter and organized” look that “will brighten it up.”
Buses will also be relocated to accommodate the addition of more stores. Some ticketing locations have already been moved and gates reassigned to accommodate upgrades to the depot’s ceilings, mechanicals and Wi-Fi infrastructure.
There’s also a new food court in the works that promises greater dining options for travelers, with a 10-year lease with OHM Concession Group for about 6,000 square feet over three spaces set to bring in around $15.2 million for the Port Authority.
The long-term future of the bus terminal remains in doubt, however, with ongoing discussions over a new West Side location that could see the current terminal replaced by a condo tower. [NYP] – Rey Mashayekhi