Giant $32B Capital Plan for Port Authority
The Port Authority of New York and New Jersey is planning its biggest 10-year capital plan ever, spending $32.2 billion between 2017 and 2026.
The goodies will include a brand-new Port Authority Bus Terminal, which would transform the blocks around Eighth Avenue and 42nd Street, just one long block away from Times Square.
There’s also an extension of the PATH mass transit system to Newark Liberty International Airport and a new AirTrain transit system to serve LaGuardia Airport, in addition to terminal redevelopments at all three of New York City’s airports.
The Port Authority also made the biggest funding commitment so far of any stakeholder involved in the planned Gateway passenger rail tunnel. The existing tunnel beneath the Hudson River was damaged in Hurricane Sandy, and will need extensive repairs to keep the trains running between New York and New Jersey.
The announcement kicks off a month-long period of public review and comment.
For comments, questions or concerns, please contact Bendix Anderson