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NEW YORK CITY-As reported in the New York Times, the George Washington Bridge Bus Station is receiving $152 million renovation from the Port Authority of New York and New Jersey. The renovation will quadruple the amount of retail space in the Upper Manhattan terminal. Acadia Realty Trust and P. A. Associates formed a joint venture to develop the project, which will be voted on the authority’s board by Thursday.

When the deal is approved, the developer will pay $1 million to the authority. The deal calls for a 49-year lease, costing $53 million.

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