One of the most evil of the necessary evils for those who commute in and out of NYC is going to get a makeover. The Port Authority board voted on Thursday to hold an international design competition to replace the aging Port Authority Bus Terminal, according to the New York Post reported. The winner will be announced in September 2016. The entire project would cost between $7 and $10 billion and two-thirds of that could be paid for through the construction of a condo tower with a commercial component atop the bus terminal.
The terminal at Eighth Avenue between West 40th Street and West 42nd Street has 2.3 million square feet of air rights to sell, and while no details of a potential tower were discussed on Thursday, it's an option thanks to that available space. As for how long a major revamp would take, a study earlier this year said that it would take 15 years, The Real Deal reports. The terminal dates back to 1950 and ridership is expected to jump another 51 percent by 2040.
· Port Authority bus terminal to get multibillion-dollar redesign [NYP]
· New tower could rise at Port Authority Bus Terminal after $10B redesign approval [TRD]
· All Port Authority Bus Terminal coverage [Curbed]