ning ▁the ▁road ways ▁the ▁P AN Y N J ▁also ▁own s ▁adjacent ▁parc els ▁along ▁the ▁right - of - way ▁and ▁is ▁act ively ▁attempting ▁to ▁div est ▁itself ▁of ▁the ▁property ▁acquired ▁during ▁original ▁construction ▁or ▁for ▁development ▁of ▁the ▁can ce led ▁AR C ▁T unnel . ▁Fund s ▁would ▁be ▁used ▁for ▁the ▁re development ▁of ▁the ▁Port ▁Author ity ▁Bus ▁Terminal ▁and ▁other ▁infrastr ucture ▁improvements . ▁ ▁In ▁ 2 0 1 1 , ▁the ▁city ▁approved ▁construction ▁of ▁two ▁ 1 8 ▁stories ▁building ▁at ▁ 9 th ▁Avenue ▁between ▁ 3 7 th ▁and ▁ 3 8 th ▁streets . ▁In ▁April ▁ 2 0 1 2 , ▁the ▁P AN Y N J ▁reported ▁that ▁a ▁proposal ▁had ▁been ▁made ▁by ▁developer ▁Larry ▁Silver stein , ▁who ▁has ▁a ▁memor and um ▁of ▁understanding ▁to ▁develop ▁this ▁property ▁at ▁ 3 9 th ▁Street ▁to ▁construct ▁a ▁bus ▁gar age ▁with ▁a ▁resident ial ▁tower ▁above ▁it . ▁The ▁par cel ▁is ▁not ▁large ▁enough ▁to ▁accommod ate ▁bus ▁ram ps ▁and ▁would ▁require ▁the ▁use ▁of ▁elev ators , ▁a ▁new ▁type ▁of ▁application ▁for ▁bus ▁storage . ▁ ▁In ▁September ▁ 2 0 1 4 , ▁Ext ell ▁Development ▁Company ▁purchased ▁air ▁rights ▁for ▁$ 3 0 ▁million ▁for ▁a ▁par cel ▁between ▁ 3 6 - 3 7 th ▁streets . ▁A ▁platform ▁or ▁a ▁cant ile ver ▁structure ▁over ▁the ▁express way ▁could ▁be ▁built . ▁While ▁approved