New Port Authority bus terminal would cost $10B

Facility would span 3.5 blocks and rise 5 stories
March 17, 2015 08:35AM

The results of a Port Authority study show that a new bus terminal facility would cost $10 billion, ten times more than some earlier estimates, and take at least 15 years to complete. 

The proposed facility would be five stories and take up an entire three and a half city blocks, whereas the current structure occupies just over two blocks and rises only three stories. The increased space will be necessary to accommodate a growing numbers of riders that is anticipated in the coming decades, though how the facility will be funded remains to be seen, Capital New York reported.

Various options are covered by the study, including placing a skyscraper at the facility’s north end, or moving the entire facility West and selling the development rights for two skyscrapers on Eighth Avenue, at the bus terminal’s current site. [Capital NY] — Tess Hofmann