The City and County of San Francisco, the Alameda – Contra Costa Transit District (AC Transit), and the Peninsula Corridor Joint Powers Board (Caltrain) proposed to replace the underused original Transbay Terminal with an entirely new and more functional building at roughly the same location.
 The final Environmental Impact Report (EIR) was published in 2004, and construction began in August 2010 on Phase 1, the new Transbay Transit Center (TTC) building.
 A new outdoor temporary terminal was opened nearby to serve commuters during construction of the new transit center.

The last bus departed the Transbay Terminal early on August 7, 2010, just after ownership of the building was transferred from Caltrans to TJPA.
Demolition by wrecking ball commenced in December 2010, and demolition was declared complete on September 7, 2011.

It was announced in March 2011 that a sculpture to be assembled from Transbay Terminal debris by Tim Hawkinson would be erected on the corner of Mission and Fremont Streets after completion of the new Transbay Transit Center.
However, the sculpture project was cancelled on June 7, 2017 due to cost and engineering concerns.
The City and County of San Francisco, the Alameda – Contra Costa Transit District (AC Transit), and the Peninsula Corridor Joint Powers Board (Caltrain) proposed to replace the underused original Transbay Terminal with an entirely new and more functional building at roughly the same location.  The final Environmental Impact Report (EIR) was published in 2004, and construction began in August 2010 on Phase 1, the new Transbay Transit Center (TTC) building.  A new outdoor temporary terminal was opened nearby to serve commuters during construction of the new transit center.
The last bus departed the Transbay Terminal early on August 7, 2010, just after ownership of the building was transferred from Caltrans to TJPA. Demolition by wrecking ball commenced in December 2010, and demolition was declared complete on September 7, 2011.
It was announced in March 2011 that a sculpture to be assembled from Transbay Terminal debris by Tim Hawkinson would be erected on the corner of Mission and Fremont Streets after completion of the new Transbay Transit Center. However, the sculpture project was cancelled on June 7, 2017 due to cost and engineering concerns.
San Francisco Transbay Terminal