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.
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