[IMGCAP(2)]Rogers Stirk Harbour & Partners, Kohn PedersenFox Architects and Pelli Clarke Pelli Architects submitted designsof 42-story, 48-story and 47-story towers, respectively, aspokesman for the Port Authority confirmed for GlobeSt.com. "We arehopeful that a final decision will be made in the next six months,"he adds, noting that the developer will make the actual decisionwith final approval from the Port Authority. A Vornado spokeswomandeclined to comment on the proposals.

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[IMGCAP(3)]Last November, the state and the Port Authorityrevealed an agreement with thetwo companies, which have formed a joint venture called 20 X SquareAssociates LLC to develop the project, to lease the air rights overthe bus terminal's north wing. The transaction is expected togenerate approximately $500 million over the term of the lease andthe agency plans to use the funds to make major improvements to thebus terminal.

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[IMGCAP(4)]The proposed air rights development will addapproximately 1.3 million sf of office space to the terminal. Itwill also renovate the approximately 60,000 sf within the existingNorth Wing for retail use. The redevelopment will also include newescalators from gates to the ground floor and 18 new bus gates andupgraded existing gates, enabling an additional 70 buses containingapproximately 3,000 bus passengers to be accommodated during eachpeak hour at the bus terminal, increasing the capacity by 18%. ThePort Authority is also planning to build a new bus-parking garagenear the bus terminal.

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