JERSEY CITY, N.J. (CBSNewYork/AP) — A plan to transform the deteriorating Port Authority Bus Terminal from a crumbling eyesore into a gleaming new facility for about $9 billion has been rejected as too costly.
The price tag to rebuild terminal in the heart of Midtown is more than twice as high as that for the World Trade Center transportation hub.
The rebuilding plan was presented Thursday to the Port Authority of New York and New Jersey’s board after the agency spent months studying how to replace the terminal. Port Authority commissioners demanded cheaper options.
The proposals had included new ramp connections to the Lincoln Tunnel and additional space so buses would not have to return to New Jersey for parking during layovers, WCBS 880’s Paul Murnane reported.
Board Member Kenneth Lipper thinks selling the World Trade Center property could net $3 billion.
“Sixty-acre Red Hook terminal in Brooklyn employs about 300 people,” Lipper said. “Its tiny operatiosn could easily be moved to existing port facilities in New Jersey.”