The New York City Board of Estimate approved the construction of the new terminal in January 1947. It was to be built one block south of the aborted Times Square Terminal Inc. site, on the block bounded by 40th and 41st Streets and Eighth and Ninth Avenues. Plans for the structural design were revised substantially in March 1948, when the Port Authority added a 500-spot parking lot for cars atop the terminal's roof, to be accessed via a series of ramps. The last industrial tenant on the future terminal's site moved away the following month, and the Port Authority hosted a groundbreaking ceremony for the terminal in January 1949.