Hudson Yards (development)

This article is about the development. For the neighborhood of Manhattan, see Hudson Yards, Manhattan. For other uses, see Hudson Yards (disambiguation).

Hudson Yards
Hudson Yards in September 2021
LocationAbove West Side Yard, Manhattan, New York City
Coordinates40°45′15″N 74°00′09″W / 40.75417°N 74.00250°W / 40.75417; -74.00250
StatusUnder construction
GroundbreakingDecember 4, 2012; 11 years ago (2012-12-04)[1]
Estimated completion2030; 6 years' time (2030)
Companies
Architect
DeveloperThe Related Companies L.P.
Oxford Properties Group Inc.
Technical details
CostUS$25 billion
Buildings10, 15, 30, 35, 50, 55 Hudson Yards, and The Shed
Size28 acres (11 ha)

Hudson Yards is a 28-acre (11 ha) real estate development in the Hudson Yards neighborhood in Manhattan, New York City, between the Chelsea and Hell's Kitchen neighborhoods. It is located on the waterfront of the Hudson River. Upon completion, 13 of the 16 planned structures on the West Side of Midtown South would sit on a platform built over the West Side Yard, a storage yard for Long Island Rail Road trains (hence the development’s name). The first of its two phases, opened in 2019, comprises a public green space and eight structures that contain residences, a hotel, office buildings, a mall, and a cultural facility. The second phase, on which construction had not started as of 2023, will include residential space, an office building, and a school.

Related Companies and Oxford Properties are the primary developers and major equity partners in the project. Related, Oxford, and other large investors have funded Hudson Yards' construction from several capital sources, including from foreign investors through the EB-5 investment program. Mitsui Fudosan owns a 92.09 percent stake in 55 Hudson Yards, and a 90 percent stake in 50 Hudson Yards. The architectural firm Kohn Pedersen Fox designed the master plan for the site, and architects including Skidmore, Owings, and Merrill, Thomas Heatherwick, Foster + Partners, Roche-Dinkeloo, and Diller Scofidio + Renfro contributed designs for individual structures. Major office tenants include or will include fashion company Tapestry, consulting firm BCG, the new New York bureau for CNN, and urban planning organization Sidewalk Labs.

The Hudson Yards site was initially intended for other developments, most notably in the early 2000s as the site of the West Side Stadium, during the New York City bid for the 2012 Summer Olympics. Public officials and private investors began developing the new Hudson Yards plan after the failure of the West Side Stadium. Construction began in 2012 with the groundbreaking for 10 Hudson Yards, and the first phase opened on March 15, 2019. Agreements between various entities including the local government, the Metropolitan Transportation Authority (MTA), and the state of New York made the development possible.

The special zoning for Hudson Yards (an area roughly bound by 30th Street in the south, 41st Street in the north, 11th Avenue in the west, and Eighth Avenue in the east) further incentivized the building of other large-scale projects. Hudson Yards is adjacent but unrelated to Manhattan West, 3 Hudson Boulevard, and The Spiral.

  1. ^ Sheftell, Jason (December 4, 2012). "New York City officials, developers to break ground on $15 billion mini-city Hudson Yards". New York Daily News. Archived from the original on June 21, 2020. Retrieved June 18, 2020.
  2. ^ Cite error: The named reference Archdaily-50HY-2016 was invoked but never defined (see the help page).
  3. ^ Cite error: The named reference 50HY-2018 was invoked but never defined (see the help page).