NEW YORK | 20 Times Square - Port Authority Bus Terminal Tower | 855 FT | 42 FLOORS

[STR]

I posted several yesterday in the model thread.

[RobertWalpole]

I hope that Vornado loses its contract when August 2011 rolls around. They've had this site through several market cycles and have always failed to develop it. I hope that Durst gets control and hires Cook Plus Fox to develop a tower here.

PS: I wonder how many entities own the parcels on this site across the street. It would be nice if the city condemned the property via eminent domain and a great project were to rise there.

[NYguy]

Originally Posted by RobertWalpole

I hope that Vornado loses its contract when August 2011 rolls around. They've had this site through several market cycles and have always failed to develop it. I hope that Durst gets control and hires Cook Plus Fox to develop a tower here.

I doubt Vornado will lose the bus terminal site though, they've already had an extension with the PA, and given the state of the economy, things likely would be delayed again.

[RobertWalpole]

Yes, but their extension is through August 2011. How many extensions can they get? They're like a student who keeps asking for an extension to submit his paper and never gets it done.

[OneWorldTradeCenter]

At this one it isn't difficult to guess who the architect is...

[NYguy]

Originally Posted by RobertWalpole

Yes, but their extension is through August 2011. How many extensions can they get? They're like a student who keeps asking for an extension to submit his paper and never gets it done.

We'll see. But I don't think anyone else can do better at this point in attracting a tenant to the building and I think the economy will be taken into consideration.

[NYguy]

http://www.observer.com/2011/real-es...lideshow/title

20 Times Square

By Laura Kusisto
February 15, 2011

It’s difficult to imagine a less desirable downstairs neighbor than the Port Authority Bus Terminal, but that certainly hasn’t stood in the way of a flurry of development in the area. Following the New York Times building at 40th Street and Eighth Avenue, and 11 Times Square, 20 Times Square will rise above the north wing of the concrete transport hub.

Law firm Paul Weiss was apparently in negotiations to become the future building’s anchor tenant in 2008, but no deal was ultimately struck. The building is 100 percent available as of January 2011, according to Cassidy Turley.

Last month, the Port Authority released the three finalists’ renderings for renovations to the bus terminal and the 1.3 million–square–foot tower that will rise atop it. Vornado, the tower’s developer, said no decision has been made about who will manage the construction.

[mrnyc]

if and when this were to get going, any guesses as to how disruptive construction would be to bus operations? i mean wouldn't they be building pilings into the middle of bus bays? seems like it would be a remarkable feat to build the tower w/o major disruptions.

[Obey]

This is a project I really want to happen. Like they said in the article: the bus terminal is extremely undesirable.

[NYguy]

Originally Posted by Obey

This is a project I really want to happen. Like they said in the article: the bus terminal is extremely undesirable.

Let's get some pics of that. Because I use the terminal quite often, and I never see these places.

[SkyscrapersOfNewYork]

Originally Posted by NYguy

Let's get some pics of that. Because I use the terminal quite often, and I never see these places.

what? are you asking for pictures of the terminal because you think it "is" desirable? i'd have to agree that its pretty bad, in terms of design. its just like Penn station serves a purpose but its bland and boring.

they should just tear it down and rebuild. something like Shanghai Pudong Airport.


http://upperclass.files.wordpress.co..._airport11.jpg

[NYguy]

Originally Posted by SkyscrapersOfNewYork

what? are you asking for pictures of the terminal because you think it "is" desirable?

I'm asking for exactly what was stated, pictures of the undersirable parts of the terminal, because I never see them. The restrooms are sometimes filthy (where aren't they?). It's sometimes crowded (in New York, what isn't?). But the reputation of the terminal that I keep coming accross in this thread is of a forbidding place. From what I see, it's basically the same as the former WTC concourse (not surprising since both are PA related). And as I said, I use it quite often. Obviosly it could be improved (again, what can't be?). But hardly that terminal that is often spoken of here.

BTW, it's ironic you should post that photo, because I find nothing attractive about it. It's fine for what it is, of course.

[SkyscrapersOfNewYork]

Originally Posted by NYguy

I'm asking for exactly what was stated, pictures of the undersirable parts of the terminal, because I never see them. The restrooms are sometimes filthy (where aren't they?). It's sometimes crowded (in New York, what isn't?). But the reputation of the terminal that I keep coming accross in this thread is of a forbidding place. From what I see, it's basically the same as the former WTC concourse (not surprising since both are PA related). And as I said, I use it quite often. Obviosly it could be improved (again, what can't be?). But hardly that terminal that is often spoken of here.

like i said it's appearance evokes the same feelings as Penn Station. useful but not pretty.

http://t3.gstatic.com/images?q=tbn:A...oGU7nr7xlf&t=1


http://i85.photobucket.com/albums/k5...i/DSC00860.jpg

[NYC2ATX]

The problem of this bus terminal is that it is so heavily used that there's no way to just close it down. You'd either have to build a temporary terminal of similar scale and then once that is operational, tear this one down and rebuild...or just build a brand new terminal somewhere else and then close this one and tear it down. The big problem is that both are extremely expensive, especially with all the other projects the Port Authority is already financing. It's quite a conundrum.

[NYguy]

Originally Posted by SkyscrapersOfNewYork

like i said it's appearance evokes the same feelings as Penn Station. useful but not pretty.

If you're saying it's not pretty, that's a different story. Terminals rarely are. It's a step above Penn Station (parts of it), but not on the level of Grand Central.


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The termnal as we know it is really two different buildings, but here's a look at the original terminal before the addition...

eralsoto

[colemonkee]

Someone should tell those three statues to get a move on it. They're gonna miss their bus.

[NYguy]

http://www.crainsnewyork.com/article...TATE/110329953

Bus Terminal tower gets $700M lift from China
With cash in hand, Vornado Realty Trust is said to be ready to go ahead with long-planned building, even without any tenants signed up.

March 23, 2011
By Theresa Agovino

Vornado Realty Trust has raised between $500 million and $700 million from a Chinese investor to build its long-planned office tower over the Port Authority Bus Terminal, sources close to the deal said.

Vornado has told real estate executives that it would be willing to construct the office tower even without a tenant--a practice developers have all but abandoned in the wake of financial crisis and recession.

But in this case, Vornado and partner Lawrence Ruben Co. could lose the right to build above the terminal if the project doesn’t move forward soon. The two companies were selected in 2000 by the Port Authority of New York & New Jersey to develop a 1.3 million-square-foot tower above the terminal on Eighth Avenue between West 40th and West 42nd streets. But the deal has been called off at least once and postponed at least once because of economic conditions. The last extension was granted in 2010, and it is unclear if the Port would be willing to grant another. A Port Authority spokesman didn’t have an immediate comment.

A Vornado spokeswoman declined to comment, and the name of the Chinese investor couldn’t be learned.

Vornado was certainly not the only developer to postpone projects in the recession. Boston Properties shelved two office buildings in recent years. However, sources say it will resume building the tower on West 55th Street if the deal it reached with law firm Morrison & Foerster to serve as an anchor tenant becomes final.

Yet, building a tower without an anchor is a risky move, especially since a tenant looking for brand new space near the bus terminal could move into 11 Times Square, which is more than half empty. Law firm Proskauer Rose has leased 400,000 square feet in the 1.1 million-square-foot tower. Moreover, there would still be room in Boston Properties’ building if it went ahead, and at least two new office buildings are rising on the World Trade Center site.

[RobertWalpole]

While I don't love the new design, this is still good news. Hopefully, someone will develop the hideous corner of N.W. 42nd and 8th and the adjacent lots. I've been told that Silverstein plans to develop a 1M sf tower in an undisclosed plot on the West Side.
Maybe it's this spot.

[NYguy]

Originally Posted by RobertWalpole

While I don't love the new design, this is still good news. Hopefully, someone will develop the hideous corner of N.W. 42nd and 8th and the adjacent lots. I've been told that Silverstein plans to develop a 1M sf tower in an undisclosed plot on the West Side.
Maybe it's this spot.

I believe those parking lots were zoned for residential in the Hudson Yards plan. But Vornado moving forward with the bus terminal tower is unexpected and great news on so many levels.

[RobertWalpole]

I agree with you! I'd like to see a nice retail/hotel/rental/condo project rise on those lots and the corner buildings.