New Port Authority Bus Terminal planned

The Port Authority Bus Terminal will be replaced. The Board of Commissioners of the Port Authority of New York and New Jersey voted Thursday to move ahead with plans for a new transit hub in Manhattan, reported the NY Post.

An international design competition will reportedly be held in 2016 for ideas on recreating a better, more modern bus terminal.

The project is expected to take 11 to 15 years and will likely cost anywhere from $7.5 billion to $10.5 billion.

The new terminal will move one block west from its current location at 42nd Street and 8th Avenue.