Estimates range from $7.5 billion to $10.5 billion in as many as 15 years
Andrew Tangel | The Wall Street Journal
Commuters and visitors to New York City stand to get a new Port Authority Bus Terminal one day, maybe in Midtown West or perhaps even in New Jersey.
But how much it would cost, where to put it and how long it would take to build are up in the air—controversial questions facing the operator of Manhattan’s aging, crowded and widely unloved bus depot west of Times Square.
Commissioners who oversee the Port Authority of New York and New Jersey chewed over five proposals for replacing the terminal, which was built in 1950 and is among the country’s busiest transportation hubs, with about 7,000 buses a day.
They grappled with sticker shock: Construction costs estimated by the authority’s staff and consultants ranged from $7.5 billion to $10.5 billion in as many as 15 years.
Those tentative price tags didn’t include windfalls the authority could reap from development rights—the proposals included possible skyscrapers by the Lincoln Tunnel. Read more