The Port Authority says its future state-of-the-art bus terminal will be built within earshot of the current facility.
The agency says it will commit the necessary funds for the terminal's construction in the 2017-2026 Capital Plan.
It's expected to be a multibillion-dollar project that will replace the aging terminal on Manhattan's West Side.
The Port Authority says it will be able to determine exactly how much the new facility will cost at the conclusion of its "International Design and Deliverability Competition."
The contest allows teams to submit conceptual designs for the new terminal.