NEW YORK CITY-The tower long planned to rise above the PortAuthority Bus Terminal, which would have provided a capitalinfusion to revitalize the terminal itself, seems to be no more. Asthe Times reported, developer Vornado RealtyTrust has informed the Port Authority of New Yorkand New Jersey that it is no longer interested in pursuingthe project.

Patrick Foye, the agency’s new executivedirector, said in a board meeting Tuesday that he would sit downwith Vornado promptly. “Obviously, that transaction is importantbecause, if consummated, it would provide desperately neededcapital to rebuild and expand the Bus Terminal, as well as generatetax revenue for the city and region and create jobs,” Foyesaid.

Scott Rechler, vice chairman of the Port’sboard of commissioners, added that review of the project’s futurewill happen just as it will for every capital project.

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