Author Topic: $25 Billion Hudson Yards Opens in NYC  (Read 401 times)

jaxlongtimer

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$25 Billion Hudson Yards Opens in NYC
« on: March 17, 2019, 10:35:16 PM »
Below are a few links to articles on the "East" phase of the newly opened $25 billion "ultimate" mixed use (office, hotel, apartments, shopping mall, performing arts venue, green space, subway station, etc.) Hudson Yards development on the west side of Manhattan.  A "West" phase is to follow (see NY Times article at bottom of post below.)  It is the largest private real estate development in U.S. history and was built over a $1 billion platform laid over part of the train yards in the area.  It also features the new tourist attraction, the "Vessel," and straddles the end of the Highline.



Before and after views of Hudson Yards area:

https://ny.curbed.com/2019/3/15/18256297/hudson-yards-new-york-photos-before-after

Before picture.  Current opening covers half of these rail yards. Phase II to cover the other half.



"Ultimate guide" to Hudson Yards:

https://ny.curbed.com/2019/3/15/18256291/hudson-yards-nyc-vessel-map-retail-architecture


Hudson Yards shopping mall called "Mall of the Future:"

https://www.marketwatch.com/story/hudson-yards-offers-shoppers-a-look-at-the-mall-of-the-future-2019-03-15?siteid=rss


Architecture reviewer from NY Times wasn't too thrilled with the relationship of the development to the rest of NYC.  Sounds reminiscent of criticisms of the Jacksonville Landing 8).  Some neat 3D viewings of the project in this article too.:

https://www.nytimes.com/interactive/2019/03/14/arts/design/hudson-yards-nyc.html
« Last Edit: March 17, 2019, 10:57:52 PM by jaxlongtimer »

Adam White

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Re: $25 Billion Hudson Yards Opens in NYC
« Reply #1 on: March 18, 2019, 03:03:48 AM »
I remember being told by an NYC expert on this forum that no one wanted to live there because it was near the convention center.
“If you're going to play it out of tune, then play it out of tune properly.”

KenFSU

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Re: $25 Billion Hudson Yards Opens in NYC
« Reply #2 on: March 18, 2019, 08:56:31 AM »
^I think Lot J might be a better comparison to Hudson Yards than the Landing.

Quote
Ninety percent of Hudson Yards’ office tenants, according to a recent study by the New School, are also transfers from Midtown, lured by lucrative tax breaks provided by New York politicians to the developers. Moving from Midtown, the investment company BlackRock, which manages $5.98 trillion, will be able to write off $25 million in state tax credits if it adds 700 jobs at Hudson Yards.

The terms du jour are corporate welfare or socialism for billionaires. City officials sold Hudson Yards to New Yorkers as a self-financing venture. That’s not what it may sound like. The city and state provided tax incentives and poured billions of public dollars into an extension of the No. 7 subway line and into acres of open space around the yards — investments presumably benefiting everyone, which the project is supposed to pay back by increasing New York’s GDP.

We’ll see how and when that happens. As the New School study documents, so far the project is shifting economic development from other neighborhoods to Hudson Yards without creating new net growth.

Ironically, a lot of the new office tenants - WarnerMedia and CNN in particular - are just transfers from Related's last billion-dollar NYC development at Columbus Circle, hopping across time to get a fresh round of subsidies.