dot com bust. Between 2000 and 2011, the PANYNJ worked with Vornado Realty Trust, which had partnered with the Lawrence Ruben Company. In November 2007, the PANYNJ announced the terms of an agreement in which it would receive nearly $500 million in a lease arrangement for a new office tower that would also provide funds for additional terminal facilities. It would include of commercial space in a new office tower, which was to use the vanity address 20 Times Square, the addition of of new retail space in the bus terminal, as well as 18 additional departure gates, accommodating 70 additional buses carrying up to 3,000 passengers per hour. New escalators would be installed to help move passengers more quickly between the gate area and the ground floor. Construction was expected to begin in 2009 or 2010, and take four years to complete. After an architectural competition, the PANYNJ selected the design by Pritzker Prize-winning architect Richard Rogers from Rogers Stirk Harbour + Partners for a 45-story office tower with an overall height of . The agreement expired in August 2009, and in May 2010, Vornado was given a retroactive extension on the deadline to August 2011. In July 2011, Vornado announced they had found a new partner to partially finance the tower, but in November 2011, the new backers pulled out of the project. In June 2014, the PANYNJ received a higher price than anticipated for the sale of nearby property, $115 million versus $100 million. The value of air rights above the terminal would be higher than previously appraised, thanks to rising property values in the area surrounding the terminal and an indication of the rising value air rights above the terminal. The agency had intentions to release a request for proposals for air-rights development in 2014–2015. West Side bus depot The Port Authority allows for limited layovers of buses, thus requiring companies to make other arrangements during off-peak hours and between trips. Many park on local streets or parking lots during the day, while others make a round-trip without passengers through the Lincoln Tunnel to use layover facilities in New Jersey. Bus layover parking on city streets is regulated by the NYDOT, which assigns locations throughout the city. In the vicinity of PABT, these are concentrated on the side streets between Ninth and Twelfth Avenues from 30th Street to 60th Street. Various studies and news reports have