It’s too early to say, but it would be very likely when the bus terminal redevelopment is partially complete. That this depot will also be demolished afterwards. New York has the City of Yes plan so this redevelopment would be part of that.
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Where would the MTA buses be stored instead? Is there a plan for a replacement bus depot?
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The new PABT will include a new bus depot, but I am unsure if it is replacing an existing one inside the current terminal (I am unfamiliar with the logistics of the current terminal) or if its intent is to replace the Quill depot, regardless the one at the PABT would need to be built first for this one to be demolished otherwise the buses would have to be stored elsewhere in the other bus depots around the city, which from a logistics standpoint would not be efficient since this is the closest depot to the PABT.
But this is an MTA bus depot. As far as I understand it’s for local buses, not the intercity buses that serve PABT. Totally unrelated purpose - it’s just a coincidence it’s so close to the intercity bus terminal.
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Oh that’s a good point, I guess I overlooked that fact, my bad 
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But in general your overall question is valid about where the MTA busses would be stored if this depot was demolished.
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