The Port Authority of New York and New Jersey (PA) has kicked off a $10B redevelopment of the Port Authority Bus Terminal which will include two new office towers over a rebuilt bus depot.
"This is a game-changer. This is one of the largest projects that the Port Authority has undertaken in its 103-year history," Kevin O'Toole, PA chairman, said at a press conference.
Rick Cotton, executive director of the PA, acknowledged that the dilapidated, 73-year-old bus terminal—the largest in the U.S. and, the agency says, the busiest in the world—is in need of an urgent redo.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
