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Called the Peter Minuit Plaza, it expects to welcome more than 150,000 commuters each day. Officials call it the city's first 21st century intermodal transportation hub, as it links the Staten Island Ferry Terminal, the M15 bus, and the 1 and R subway lines.

There's also a new taxi stand, bikeway, and pedestrian pathway.

"This is a statement. This is saying that New York is great for transportation, and public transportation, that we have great transit hubs, that we have beautiful architecture, cutting edge design, and I think most important, wonderful public spaces," said Parks Commissioner Adrian Benepe.

"When you open a park in Lower Manhattan, it's a great day for all of New York City. This is about the rebuilding efforts from September 11th, and about pushing our city into the 21st century. It's a great day and another step towards a harbor park, a central park for the center of the city," said State Senator Daniel Squadron.

The Netherlands donated $2.3 million for the hub's New Amsterdam Plein and Pavilion to commemorate the 400th anniversary of Henry Hudson's arrival into New York Harbor.