"A NATIONAL INDUSTRIAL REAL ESTATE SERVICE TO MANUFACTURERS" 270 Madison Ave., at 39th St., N.Y. CROSS & BROWN COMPANY Essex Bldg., Newark, N. J. Caledonia 7000 INDUSTRIAL DEPARTMENT Market 3008 TRANSMARINE LINES Port Newark (New York Harbor) Weekly Sailings to the Pacific Coast Every Tuesday Intercoastal - Every Ten Days A Transmarine Line ship leaves Port Newark for the Pacific Coast Ports of Los Angeles, San Francisco and Oakland. No intermediate stops are made on the Atlantic Coast. Gulf - Tri-monthly A Transmarine Line ship leaves Port Newark VOL. 5, No. 5, Whole Number 53 AND SHIP NEWS MAY, 1926 Twenty-five Cents a Copy Manhattan-Fort Lee (N. J.) Bridge, To Build Which New York and New Jersey Have Jointly Undertaken to Provide the Initial Sum of $10,000,000 T Summary of the Tentative Report to the Port of New HE PORT OF NEW YORK AUTHORITY has received an extended but tentative report on the subject of the proposed bridge between Upper Manhattan and New Jersey, which has met the approval of its staff, and been forwarded by the Port Authority to the Governors of New York and New Jersey. In transmitting the report, the Port Authority states that it is in order to give the Governors "the latest available information on this matter." The appendix to the report contains a statement by Cass Gilbert, architect, as well as a number of tables giving estimates of the gross revenues from tolls likely to accrue from the use of such a bridge, also maps and drawings. The Port Authority calls it the "Fort Washington-Fort Lee Bridge." The report starts as follows: The preliminary work necessary for the planning and construction of the Hudson River Bridge between Fort Washington and Fort Lee, with which The Port of New York Authority has been charged by the Legislatures of New York and New Jersey, has now advanced to a point where conclusions can be drawn regarding the physical and financial feasibility of this bridge, its necessity as a link in the local and interstate transportation systems, its location, size, type, method of construction, approximate cost and aesthetic merits. Briefly the work so far accomplished embraces comprehensive traffic studies to determine the probable volume of traffic over the bridge and the revenues to be derived therefrom, topographical surveys, river borings and engineering design studies to determine the suitable site, size and type of crossing and its cost, and finally, architectural studies to determine the feasibility of rendering the bridge a befitting object in a charming landscape. The project being of exceptional magnitude and complex aspect, it was necessary that the preliminary studies be undertaken with great care and thoroughness. The appropriations by the two States for these preliminary studies, amounting to $200,000, became available only on July 1, 1925, and the time has not been sufficient to permit either the completion of the studies or the rendering of a comprehensive report on the project. However, it is believed that from the studies so far completed the following conservative conclusions may be drawn: Conclusions (1) The traffic studies reveal an urgent demand for a crossing for vehicular traffic in the vicinity of the proposed bridge to relieve the present intolerable traffic situation. The traffic volume is of more than sufficient magnitude to make it financially feasible to construct, operate and maintain, from tolls, such a crossing, not considering the broader benefits to the people of both States as well as to the local community. (2) The general location of the bridge is well chosen with regard to topography in its vicinity and the feasibility of convenient connections to the important local and arterial highway routes on both sides of the river. A crossing at this point also appears to be the next logical step after con struction of the vehicular tunnel at Canal Street, since the two crossings are far enough apart not to influence materially each other's traffic quota. (3) From the engineering point of view the construction of the bridge is in every respect feasible and, while of unusual magnitude, will involve no extraordinary difficulties, nor hazardous or untried operations. The bridge will have a single river span of at least 3500 feet and a clear height above water of about 200 feet. The piers will be located within pierhead lines, as established by the War Department, and will therefore be no obstruction to navigation. (4) The bridge is to be of the suspension type, the most economical and aesthetically superior type available. It will be of extremely simple construction, and its design is conceived so that it will be feasible to build the bridge at a minimum initial expenditure to serve present traffic needs, and to enlarge its capacity as the traffic volume increases. (5) If funds for construction of the bridge shall become available in 1927, it is expected that not later than 1933 the bridge will be open for four-lane vehicular and bus passenger traffic and for pedestrians. It is estimated that this capacity will suffice to take care of the initial traffic and the expected increase until about 1943, when it will probably become necessary to enlarge to an eight-lane vehicular capacity. (6) While it is not possible, at the present time, to report definite cost figures, it is estimated, upon information so far AND SHIP NEWS available and upon such forecast of real estate values as may now reasonably be made, that the bridge can be opened for highway traffic at a cost of less than $50,000,000, inclusive of interest during construction. (7) Depending upon the traffic capacity finally to be decided upon, it is estimated that the bridge can later be enlarged at an additional cost of between $15,000,000 and $25,000,000, if, and when, the vehicular and passenger traffic will have grown in volume to pay for this additional cost. (8) On the basis of conservative traffic analysis, and without counting upon the vehicular traffic which will be generated by the construction of the bridge, nor upon possible income from other than vehicular traffic, it is estimated that during the first year after completion the revenue will more than cover the annual interest charge, administration, maintenance, and amortization. The bridge will thus be self-sustaining in every respect from the first year without impos ing unreasonable toll charges upon the traffic. (9) On the basis of conservative assumptions for future growth of traffic, and counting upon revenue from vehicular traffic alone, it is estimated that within ten years after opening to traffic the bridge may be enlarged to eight-lane capacity, and that within twenty years thereafter the entire bond issue raised to cover construction cost can be amortized. (10) The architectural studies so far made, while yet tentative, indicate clearly that the bridge may be so designed as to form an object of grace and beauty as well as utility, and to blend harmoniously with the grandeur of its natural setting. (11) In view of this favorable aspect of the bridge, its urgent necessity to relieve traffic conditions and in order to derive the benefit of a complete investigation, it is recommended that the preliminary work be carried to completion, and that the States be asked to appropriate an additional sum of $100,000 to make that completion possible. Following is a more complete and detailed account of the work so far accomplished: Traffic Studies Since the Legislative Acts provide that the Port Authority may levy charges for the use of the bridge and that the bridge shall be built and paid for in whole or in part by bonds of the Port Authority, or other securities, it has been necessary to ascertain whether or not the revenues from tolls for vehicles and pedestrians, and possibly franchise rights for rail passenger facilities, will be adequate to meet the cost of construction. This involves the study of a number of traffic factors, viz.: First: The present volume of vehicular and pedestrian traffic over each of the seventeen ferries across the Hudson River. Second: The volume of traffic the bridge will be expected to attract when it is opened to traffic. This requires an estimate of the effect on the bridge traffic of the opening of the vehicular tunnel in 1926. Third: The volume of traffic that can reasonably be expected to be diverted to the bridge from each of the other crossings in that year. Fourth: The volume of traffic over the bridge for each year, for twenty years subsequent to the opening of the bridge, proper allowance being made for the effect upon the bridge traffic of the possible construction of other crossings below 179th Street, Manhattan. This necessitates the determination of the origin and destination of vehicles by types for the existing ferries and apportioning the divertible traffic to each of the proposed crossings in such a way as to take into account relative distances and ferry, tunnel, and bridge charges and the elimination of undue congestion on the approach streets to each of the proposed facilities. Fifth: An estimate of the revenues for each year subse These figures must be revised as the analysis proceeds to take into account the effect of the opening of additional crossings. The above figures do not include traffic which will be generated from the adjacent territories, whose growth the bridge will stimulate. While this cannot be measured accurately, an analysis of the growth of population, intensity of realty development, and motor vehicle registration is in process to determine the effect of the East River bridges upon Brooklyn and Queens, in order to gauge roughly the effect that the Hudson River bridge will have upon Fort Lee and its contiguous communities. The amount of this traffic will be considerable and eventually will be added to the above estimates. While the above traffic is the principal source of revenue, there are four other sources which will contribute to the income of the bridge. This revenue will come from passengers in vehicles, pedestrians, bus lines and rapid transit facilities. Studies are under way to ascertain the potential traffic which will give rise to this income and will be presented in a later report. Tables (1-a), (1-b), (1-c), appended to this report, give the gross revenues estimate to date for a 50c rate, a 60c rate, a 70c rate, respectively, from vehicles only. It will be seen that for 1933, or the first year of operation, the income from vehicles alone is forecast as at least $3,700,000. Subtracting the charges for administration, maintenance and operation, the net operating income is close to 61⁄2 per cent on the $50,000,000, the probable maximum initial cost of the bridge. In addition, there will be revenue from passengers in vehicles, pedestrians, and bus lines, and from vehicular traffic which will be generated by the bridge. Consequently, it is safe to conclude at this time that the charges on the initial and ultimate cost of construction can be met out of the potential revenue from traffic, and that therefore the project is economically sound. Location Studies The Legislative Acts of New York and New Jersey provide that the bridge shall be located at a point between 170th (Continued on Page 21) |