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Port Authority of New York and New Jersey Midtown Bus Terminal Replacement Phase I
Project Type
Public Transit
Financing Type
TIFIA
Status
Credit Agreement Executed
Sponsor/Borrower
Port Authority of New York and New Jersey
Project Description
The loan supports the construction of bus storage and staging facilities, new ramps accessing the Lincoln Tunnel, and 3.5 acres of publicly accessible open green space, the first phase of a $10 billion plan for a new 2.1-million-square-foot main terminal.
The new terminal will be constructed on the existing terminal site and will expand capacity, accommodate modern buses, and improve sustainability and operations. The new bus storage and staging facilities will serve as a temporary terminal during construction and will be paired with new ramps to and from the Lincoln Tunnel, removing busses from city streets. The project also includes two “deck overs” at Dyer Avenue for bus operations during construction that will be converted to publicly accessible open green space when the project is complete. Additionally, the project will provide for future private development of commercial office towers at the site.
