by Laura Matiz
In December 2014, I wrote about transit developments in "NYC Underground: New Transit Projects." There, I highlighted the 7 Line West Side Extension that will reach the Jacob Javitz Convention Center. The extension will also serve the new Hudson Yards Redevelopment Project, "the largest private real estate development in the history of the United States and the largest development in New York City since Rockefeller Center." This project is bound to open up and change Manhattan's far West Side.
New Yorkers have been hearing about the Hudson Yards for many years. First, it was the proposed site of the City's failed bid for the 2012 Summer Olympics. (How many remember that? It went to London.) It was also the proposed site for the much-publicized New York Jets football stadium that fell to local opposition. A rezoning of the area led to the development plan for the Hudson Yards led by the Related Companies and Oxford Properties. The work will proceed in two phases: first, the Eastern Yard to be followed by the Western Yard in phase two.
The Hudson Yards are located between 30th Street and 34th Street and 10th and 12th Avenues. The 28-acre development will be built above the existing grade-level train yards, where the LIRR stores its trains mid-day. Fortunately, when the train yards were originally built, space was left between the tracks in order to accommodate supports for a future overbuild, which is exactly what is necessary to support the platform that will cover the yards.
According to the developers, about 50% of the 28 acres will be open space. This will make the Hudson Yards have a park-like feel, but it is also necessary because only 38% of site can be used to support structures because of the tracks and tunnels below. The development will link up with the High Line, which wraps around its western and southern borders, and with the Hudson Park & Boulevard, a new $30 million park project that the City is undertaking just to the north starting at 34th Street.
Stephen Ross, chairman of the Related Companies, talks about the development and impact of the Hudson Yards in this video below.
When completed, the Hudson Yards will include more than 17 million square feet of commercial and residential space. An expected 5,000 new residences will be served by the numerous shops and restaurants, and a cultural space anchored by the public square. Two new residential towers will be built on the Eastern Yard, each reaching over 70-stories high. I will be tracking these residential developments as they become viable options for investors and homeowners, in what will become a much sought-after residential area.