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Growing the Region - News from the Port Authority of NY & NJ

Vol. 3, No. 1, January 2008

Port Authority Toll and Fare Increase Approved by Board
At its January 4 meeting, the Port Authority Board of Commissioners approved the agency’s first toll and fare increase in seven years to help pay for escalating security costs and nearly $30 billion in capital investments.

The approval followed an extensive public comment period that included six public hearings in New York and New Jersey, and the agency’s first online hearing. As a result of comments received, and to further the agency’s commitment to mass transit, the Board approved several changes to the original proposal announced last November 15. They are:

  • Cash fares on PATH will increase from $1.50 to $1.75, a 25-cent reduction from the original proposal. Daily PATH commuters who use the 10-, 20- or 40-ride fare card will see an increase from $1.20 to $1.30 per ride, less than half of the original increase proposed. New fare options will include one-day, seven-day and 30-day unlimited ride cards.

  • The discount toll for preregistered carpools will rise from $1 to $2, $1 less than the original proposal.

The new toll rate for drivers using
E-ZPass on Port Authority tunnel and bridge crossings would increase from $4 to $6 for off-peak travel and from $5 to $8 in peak hours. Cash tolls would increase from $6 to $8.

Read more…

Lincoln Tunnel

High-Speed Automated
Toll Collection, E-ZPass Express, at the Outerbridge Crossing

Port Authority and The Westfield Group to Partner on World Trade Center Site Retail
Also at the January 4 meeting, the Port Authority Board approved an agreement with The Westfield Group to jointly develop and operate 488,000 square feet of world-class quality retail at The World Trade Center site.

This new retail development will be the first to be built in lower Manhattan since September 11, 2001, reconnecting the site to neighborhoods in the downtown area, and will bring a vibrant street-level environment for local residents, workers and tourists. The retail facilities will feature a full array of eateries, and local, national and international specialty shops.

Read more…

Stewart Airport

Rendering of a Portion of Retail Space at The World Trade Center Site

Major Office Tower to Be Built Above Port Authority Bus Terminal
In December, the Port Authority Board of Commissioners authorized the Port Authority to enter into leases and agreements with 20X Square Associates, LLC, a joint venture of Vornado Realty Co. and the Ruben Companies, to develop, build, lease and operate a 1.3 million-square-foot office tower above the Port Authority Bus Terminal. The proposed air rights development will provide first-class office space above the north wing of the terminal located at Eighth Avenue and 42nd Street in Manhattan, and a retail complex within the terminal.

The transaction is expected to generate approximately $500 million over the term of the lease. The Port Authority will use the funds to make major improvements to the bus terminal that will increase capacity by more than 3,000 commuters per hour. These improvements include 18 new bus gates, upgrades to existing gates, new escalators for better pedestrian circulation, the creation of approximately 60,000 square feet of bus terminal retail, and an improved and modernized appearance throughout the terminal. These upgrades will create an elegant new public space on par with other great transit hubs in the region.

Read more…

Stewart Airport

View of Port Authority Bus Terminal at intersection of 8th Ave. and 42nd Street

News Briefs
Web casts of Port Authority committee and board meetings are available on the Port Authority’s Web site.

Podcasts of archived Growing the Region e-newsletters are available on the Port Authority’s Web site.

Did You Know?
The Port Authority Bus Terminal is the world’s busiest bus terminal with approximately 200,000 people passing through it on an average weekday, and over 7,200 daily bus arrivals and departures. Click here for more information.

Public Meetings
The next Port Authority Board of Commissioners meeting will be held on February 21, 2008. Click here to view minutes of previous board meetings, board actions and related information.

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