NYC’s Midtown Bus Terminal Gets $1.9B Loan

The terminal will greatly help to improve the city's transportation infrastructure.

Source : New York City Department of Planning

January 22, 2025

Author : Alex Bustillos

The Port Authority of New York and New Jersey has received a major boost to its plans to replace the aging Midtown Bus Terminal in New York City. 

The U.S. Department of Transportation has approved a $1.9 billion loan under the Transportation Infrastructure Finance and Innovation Act (TIFIA) program. This funding will support the first phase of the $10 billion project.

The Midtown Bus Terminal, which first opened in 1950, is the busiest in the world but has struggled to meet growing commuter demands. The new project plans to change it into a modern transit hub with state-of-the-art facilities. Construction is set to begin this year.

The new terminal will include a facility for bus storage and staging, with charging stations for electric buses. It will also feature 3.5 acres of public green spaces, community retail areas, and improved ramps connecting to the Lincoln Tunnel to reduce congestion. Designed with sustainability in mind, the terminal will meet net-zero emissions standards.

“The Midtown Bus Terminal is a fixture in many New Jerseyans’ daily lives, and our residents deserve a best-in-class facility. Securing this critical funding brings us a step closer to a new and modernized bus terminal that will serve as the world-class gateway to our region while bolstering our regional economy.” said New Jersey Governor Phil Murphy.

Phase one of the project, which includes a temporary terminal and new infrastructure, is expected to be completed by 2029. The main terminal, a two-million-square-foot facility, is set to open by 2032.

This project is seen as transformative  for the region, improving daily commutes and amping up overall economic development.

Category : Department of Transportation

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