Dear future participants in the International Design Competition to replace the Port Authority Bus Terminal. As you use Google and do some preliminary research, I hope you're getting the hints on what will make a successful, winning proposal.
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Each design that is submitted must include cost of construction, estimated operating costs, and revenue from potential construction above the new terminal site, and on the site of the existing terminal, for commercial and residential development. Revenue from potential development could cover 2/3rd of the construction costs.
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The 2.3 million sqft of air rights is inaccurate. The true number for the current bus terminal site, including all access roads, is closer to 5 million. Additionally, the Port Authority voluntarily submits its lands to local zoning, but Port Authority-owned land has been granted immunity to local zoning in its interstate compact authorized by the United States Congress and approved by the legislatures of New York and New Jersey. This is one of the few cases were any political pushback by the city of New York may be worth the millions in extra development rights by utilizing the legally granted zoning immunity. (I believe the last time it was used on this scale was during the development of the original World Trade Center.)
New terminal is estimated to cost $10 billion, air rights can be sold for $300 per sqft, and Port Authority desires to have at least 2/3rds of the cost paid for by air rights. As architects, you control two of the three variables. Don't disappoint us; Spanish architects named Calatrava need not apply.
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Participants in the design competition are encouraged to suggest alternative sites for a different PABT if their analysis determines that the current site is not optimal.
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Hint two: find another site that where the cost to build will be a lot less than $10 billion, such as in New Jersey! Have it near a PATH or NJ Transit rail line for access to Manhattan. In fact, preliminary plans for a bus terminal at Secaucus Junction already exist and can be found here:
http://www.nycedc.com/sites/default/...April_2013.pdf
Finally, for both the current site of the PABT and the new site of the PABT, make sure the plans include provisions for substantial towers to be constructed above each site, along with an analysis of how much revenue in air rights can be generated at full build out. The current PABT will be demolished, so the developers will have a clean state. The new PABT should be designed to support towers literally above the station.
I will personally show up at every Port Authority board meeting and campaign against any proposal which does not take full advantage of the air rights to help fund the replacement PABT.