Overcrowded Port Authority Bus Terminal desires additional space

TRD New York /
Apr.April 19, 2011 09:47 AM

Gates at the Port Authority Bus Terminal are getting so crowded that after dropping off passengers, many NJ Transit buses return empty to New Jersey to park for the day, causing unnecessary congestion and higher costs, according to the Wall Street Journal. Each day, about 6,000 buses carry nearly 225,000 passengers back and forth from New York to New Jersey and the current facility isn’t vast enough to allow for smooth operation of the buses, according to Stephen Napolitano, general manager of the Lincoln Tunnel and the Port Authority Bus Terminal. That’s one reason the Port Authority is eager to strike a deal with Vornado Realty Trust, which has held on-again-off-again talks for much of the last decade to build a tower above the bus terminal that would yield $250 million to add gates and improve operations. The Journal said that an even better option may be to build a new garage in Manhattan where buses can park instead of making empty trips back to New Jersey, but that would require local politicians allocating $1 billion for the project. [WSJ]


Related Articles

arrow_forward_ios
Vornado's Steve Roth and 220 Central Park South (Credit: Getty Images, iStock)

Free and clear: Vornado pays off debt at 220 CPS

Vornado chairman and CEO Steven Roth, and 608 Fifth Avenue (Credit: Getty Images)

“Negative surprises”: Vornado execs talk retail struggles on Q2 earnings call

Steven Roth, CEO of Vornado and 640 Fifth Avenue (Credit: Getty Images and Vornado Realty Trust)

Bank of China issues $500M to Vornado in refi of 640 Fifth Avenue

220 Central Park South (Credit: Getty Images)

Vornado’s 220 Central Park South closes $64M condo sale

Vornado chairman Steven Roth (Credit: Getty Images)

Vornado slashes Forever 21’s rent, dimming 2020 outlook

Facebook CEO Mark Zuckerberg and Apple CEO Tim Cook with a rendering of the Farley development (Credit: Getty Images, SOM iStock)

Facebook facing off with Apple over space in Vornado’s Farley Building conversion

The architect claims the design, construction and marketing of the tower rips off the design of a tower he planned and modeled for his thesis

Lawsuit over WTC design is whittled down

220 Central Park South and Michael Cantanucci (Credit: Getty Images and Google Maps)

Car dealer drops $38M for condo at 220 CPS

arrow_forward_ios