Over the next 15 years, $7–10 billion dollars will be spent to overhaul one of the saddest, most depressing places on earth. The Port Authority of New York & New Jersey (PANYNJ) voted this month to transform the 65 year old Port Authority Bus Terminal, on Eighth Avenue at 42nd Street, and build a new station on the next block.
Earlier this year, the agency estimated it would cost $11 billion to build a new bus station. The new station will be built between Ninth and Tenth Avenues, one block west of the current station. PANYNJ will create a competition to solicit new designs, and the winner will be selected by September of next year.
The terminal’s 200,000 daily passengers have time to let their excitement built: in a self-study, the Port Authority estimates that it will take between 11 and 15 years to complete the project. Two-thirds of the cost of the new station will be covered by the construction of a tower on the site of the current station, which has 2.3 million square feet of air rights. The terminal is the nation’s busiest bus station and a regional transit hub, so it must remain operational while the tower is being built. Bus terminal enthusiasts will recall that, in 2011, PANYNJ scrapped plans to build a 855 foot, 45 story office tower on the site of the terminal, designed by Richard Rodgers.