Governor Kathy Hochul, New York City Mayor Eric Adams and the Port Authority of New York and New Jersey (PANYNJ) have announced a new agreement to support the 10 billion USD replacement and expansion of the Midtown Manhattan Bus Terminal.
The city has committed 40 years of tax revenue from three potential new commercial developments, two of which will be positioned atop the new bus terminal and the third to be built at a nearby site. This will help the Port Authority raise an estimated total of up to 2 billion USD, which will be 20 percent of the project cost.
New York Gov. Kathy Hochul said:Anyone entering New York City should be greeted by a world-class travel hub, and now we are one step closer to a revitalised Port Authority Bus Terminal. We are modernising New York's infrastructure to prioritise public space, thriving businesses, and the safety and wellbeing of all New Yorkers. Replacing and expanding the Bus Terminal will spur economic development for decades to come and rebuild an important gateway into New York City.
The new Midtown Bus Terminal will replace the existing 73-year-old rundown terminal. The new facility will be designed to meet projected 2040-2050 commuter growth while enhancing the customer experience in line with 21st-century public transportation needs.
The project will construct a 2.1 million square foot main terminal, a separate storage and staging building, and new ramps leading in and out of the Lincoln Tunnel.
This work will add capacity to allow curbside inter-city buses to move their operations inside the bus terminal.
New street-facing concessions and retail amenities will also be built and nearly 3.5 acres of publicly-accessible open space will be created to improve connectivity for pedestrians.
In addition, the terminal will have improved and attractive facades, enhancing the visual quality of the facility.
New York City Mayor Eric Adams said:For decades, New Yorkers have watched the Port Authority Bus Terminal deteriorate from the world-class facility it was in the 1950s to the stain it is on Midtown today. The days of watching are over, and the days of acting are here. Our investment over the course of the coming years, and our partnership with the Port Authority, will help develop a new crown jewel for Midtown — a state-of-the-art bus terminal that will add acres of new public space and storefronts, decrease congestion in Hell’s Kitchen, and improve the commuter and community experience in and around the terminal for both New Yorkers and visitors to the greatest city in the world.
The project’s timeline will see a temporary terminal and new ramps constructed in 2028, prior to the completion of the new main terminal in 2032.
