PlanNYC: Hudson Railyards

Feedback

Community District

Find the planning projects in your community district.

All Projects

QUICK LINKS

Hudson Railyards

Following the defeat of the city's plan to construct a new Jets football stadium on Manhattan's West Side, the future of the Hudson Railyards site remains in question. The 26-acre property runs from 30th to 33rd Streets between 10th and 12th Avenues, and its value has remained an issue of debate, as well as the ideal use for the site. The city has recently offered to purchase the yards from the MTA for $500 million, a price which some say is far below the fair market value. However, the MTA's board has authorized its chairman, Peter Kalikow, to negotiate with the city.

sorted by date | sort by source | sort by topic

Bloomberg Expresses Hope for Hudson Yards Deal

Saturday, May 10, 2008 | New York Times | Topic: General

Mayor Bloomberg met with representatives from Tishman Speyer in London on Friday and expressed optimism that the developer, selected in March as the winning bidder to redevelop the Hudson Railyards site, and the MTA could still work out a deal for the site. Negotiations failed last week when, according to the MTA, Tishman proposed postponing the closing of the deal until the West railyard site was rezoned, a process that will take at least 18 months. After giving the developer a day to reconsider, the MTA called off the deal on Thursday afternoon. Representatives from Tishman and the MTA are scheduled to meet again on Monday.

MTA and Tishman Speyer to Continue Negotiations

Friday, May 09, 2008 | Crain's New York Business | Topic: General

Despite an apparent collapse in the negotiations between the MTA and Tishman Speyer over the development of the Hudson Railyards site, the two agencies are said to be working on reviving the deal. According to Crain’s, moving forward with the deal is in both parties’ interest. If further negotiations fail, the MTA loses the $1 billion that Tishman pledged for the development rights, and risks losing leverage with other potential developers. Tishman Speyer would lose the opportunity to develop a signature project at on the largest remaining developable tract of land in Manhattan.

Hudson Rails Yards Agreement at Standstill

Friday, May 09, 2008 | New York Times | Topic: Land Use

The 26 acre site development deal between Tishman Speyer Properties and the Metropolitan Transportation Authority to develop the West Side rail yard is at a standstill. According MTA, Tishman Speyer wanted to change the terms of agreement that was originally agreed upon in March. Some are concerned that the standstill could jeopardize the project due to the slowing economy. Both the MTA and Tishman Speyer have indicated their commitment to the project and meeting the needs of the community.

Ouroussoff: Architectural Renderings Don’t Tell the Whole Story

Sunday, April 20, 2008 | New York Times | Topic: General

New York Times architectural critic Nicolai Ouroussoff offers a critique on the visual materials that developers present to the public for large-scale developments, using Tishman Speyer’s plans for the west side railyards as an example. Ouroussoff asserts that the renderings and models that Tishman Speyer released don’t accurately portray the reality of their plans, which is has become the norm for developers. Specifically he says that the visuals are presented in such a way that it is difficult to assess the actual scale of the project, or how it fits with its surroundings. He concludes that such incomplete portrayals cloud the public review process.

Redevelopment Plans for West Side in Jeopardy

Monday, April 14, 2008 | New York Times | Topic: Economic Development

Due to a slowing economy, financial instability, logistical issues and setbacks with Penn Station and Javits Convention Center, Mayor Bloomberg’s overarching plans for redeveloping the West Side are in jeopardy. Several in the planning community believe that the City should use the delays as an opportunity to focus its efforts on rethinking the development plans for the area. Some urban planners argue that a less ambitious plan of establishing incremental developments toward the West Side would be more practical.

Deadline Missed in Hudson Yards Redevelopment

Friday, April 11, 2008 | New York Sun | Topic: Land Use

Under an agreement reached two weeks ago between the Metropolitan Transportation Authority (MTA) and Tishman Speyer, the developer chosen to redevelop the 26 acre rail yards, MTA was supposed to certify Tishman as the developer by Thursday April 10th. That deadline was missed, although both sides have said that an agreement is near completion. Tishman must still get the site rezoned which is subject to the city’s Uniform Land Use Review Procedure. This could delay the project significantly

Pros and Cons in Hudson Yards Deal

Thursday, March 27, 2008 | Gotham Gazette | Topic: General

The Gotham Gazette outlines the pros and cons of the Tishman Speyer plans for the Hudson Rail Yards that have been posited by several different interest groups. People involved in the High Line Park project applaud the plans for its preservation and renovation of the portions of the high line on the site. The Daily News calls the deal a “win-win,” citing money from the deal for transit, increased property taxes, and the development of a new school. GreenbuildingsNYC.com, a website devoted to green business issues in New York City, notes concerns about affordable housing, but acclaims Tishman Speyer for their green track record. Other groups are more critical of the development plans.

Tishman Speyer Bid and Hudson Yards Development Expected to Jumpstart West Side and Fill MTA Budget Gap

Wednesday, March 26, 2008 | Reuters US Edition | Topic: Finance

Tishman Speyer’s $1 billion bid for the Hudson Rail Yards will fill the $700 million gap in the MTA’s capital plan. Although the developer will only be required to pay $88 million in the first three years, the MTA’s chief financial officer noted that the money for the capital plan is not actually needed until 2016. Both New York City Mayor Michael Bloomberg and New York Governor David Paterson hailed the project as an important boost during tough financial times.

Tishman Speyer Wins Hudson Yards Bid; Details of Helmut Lange Design

Wednesday, March 26, 2008 | WNYC | Topic: General

After the announcement of Tishman Speyer’s winning bid for the Hudson Yards site on Manhattan’s west side, WNYC reporter Matthew Sherman discusses the details of the Helmut Jahn design for the site, as well as financing issues.

MTA Says Tax-Exempt Bonds a Possibility to Help Finance Hudson Yards

Wednesday, March 26, 2008 | Reuters US Edition | Topic: Finance

The Metropolitan Transportation Authority (MTA) announced that Tishman Speyer, the developer chosen for the Hudson Yards redevelopment, will possibly have the ability to use tax-exempt bonds to help finance the decking over of the train tracks on the site. However, an MTA official clarified that these bonds would be sold on a non-recourse basis.

Hudson Yards Development Goes to Tishman Speyer

Wednesday, March 26, 2008 | Crain's New York Business | Topic: Land Use

The Metropolitan Transportation Authority (MTA) selected Tishman Speyer as the developer of the Hudson Yards area. Tishman’s winning bid was $112 million higher than the joint offer by Durst Organization and Vornado Realty, which was seen as the most competitive of the three other bids remaining. The plan submitted by Tishman Speyer has drawn community opposition because it has less open residential space than the other proposals, and it does not include plans to keep the entire High Line. The developer will likely revise its plans to address some of these concerns during the land use process. Tishman Speyer was able to win the bid without an anchor tenant.

Winning Hudson Yards Plan Will Face Scrutiny From Public

Tuesday, March 25, 2008 | New York Observer | Topic: Land Use

Before it can be developed, the western section of the Hudson Yards site will need to be rezoned. This means that the winning developer’s plans will need to go through the city’s land use processes, which calls for input from the local community boards and the borough president before it reaches the City Council. The expected winning bid from Tishman Speyer has already received criticism from Community Board 4, which may result in changes to the final plan.

Durst and Vornado Still Hope to Win West Side Railyards

Tuesday, March 25, 2008 | New York Times | Topic: Land Use

Although several experts have speculated that Tishman Speyer will be given the bid by the Metropolitan Transportation Authority (MTA) to develop the West Side Railyards, a joint effort by the Durst Organization and Vornado Realty Trust is still trying to advocate their proposal. The Tishman Speyer plan has nearly 10 million square feet of office space while the Durst/Vornado bid has about half of the office space but 7,000 residential units, making it popular with the community. Durst/Vornado is also pushing that they still have an anchor tenant, Conde Nast, to support their endeavor, while Tishman Speyer recently lost its anchor tenant, Morgan Stanley. The MTA is expected to make a final announcement at its Board meeting on Wednesday.

Tishman Speyer Expected to Win Bid for Hudson Yards Site

Saturday, March 22, 2008 | New York Times | Topic: Economic Development

Tishman Speyer is likely to be announced as the winning bidder for the Hudson Rail Yards site on the west side of Manhattan at a March 26th meeting of the Metropolitan Transportation Authority’s (MTA) Board, according to two associated with the negotiations. There were initially five bidders for the western railyards, but last month Brookfield Properties dropped out of the running. The Extell Development Company was eliminated last week by the MTA, according to a source. Recently, the Related Companies lost support from its anchor tenant, the News Corporation. The remaining two bids in consideration are a joint effort by Durst Organization and Vornado Realty Trust and Tishman Speyer, who also recently lost support from its anchor tenant. According to the sources, the MTA has focused its negotiations on Tishman. An announcement of a winning bid will begin a four-month period of additional, more detailed negotiations regarding the transfer of the site.

MTA Will Delay Decision on Winning Bid for Hudson Yards Redevelopment

Friday, March 21, 2008 | New York Sun | Topic: Land Use

Eliot Sander, Chairman of the Metropolitan Transportation Authority, has said that a decision on a winning bid for the Hudson Yards is not likely to happen by the end of March as originally planned. In recent weeks, one of the five bidders, Brookfield Properties, has dropped out and another, Tishman Speyer, lost Morgan Stanley as its anchor tenant. A possible reason for the delay could be because of the recent Administration change in Albany.

Governor’s Resignation Could Impact Major Projects

Wednesday, March 12, 2008 | Crain's New York Business | Topic: Politics & Government

Governor Spitzer’s resignation is expected to impact the outcome of two major projects, Hudson Yards and Moynihan Station. The MTA anticipated designating a developer for the Hudson Yards site by the end of March. However, with a new governor entering office, some believe that it could take longer for a decision to be made. Additionally, the fate of Moynihan Station may also be in jeopardy as it is already facing budget constraints despite having Spitzer’s support. It is uncertain if David Patterson will be committed to supporting this project. Patterson’s decision to replace heads of certain state agencies could also affect the outcome of these projects.

Morgan Stanley Backs Away as an Anchor Tenant in Hudson Yards Bid

Wednesday, March 05, 2008 | New York Times | Topic: Economic Development

Morgan Stanley, which had initially partnered as the anchor tenant for Tishman Speyer Properties’ bid to develop the Hudson Yards, says that it can no longer commit to the project. Morgan Stanley is concerned about the timetable of the development, especially with regards to their current lease, which does not end till 2013. The Metropolitan Transportation Authority (MTA) had expressed a preference for bids that included an anchor tenant, because it thought they would be more likely to remain on schedule. Some are saying that this move by Morgan Stanley reflects fears about the real estate market and the ability of this project to finish on the city’s timetable.

Brookfield Properties Drops Out of Hudson Yards Bidding

Wednesday, February 27, 2008 | New York Sun | Topic: Land Use

Brookfield Properties, one of the five developers who submitted bids to develop Hudson Yards, has withdrawn from the process. The Metropolitan Transportation Authority (MTA) had asked for a resubmission of bids, which would provide a more detailed financial plan for a 99 year lease instead of sale, which the MTA currently favors. Brookfield did not resubmit its bid. The developer is still expected to begin construction of a platform over another set of railroad tracks on the West Side in June. The MTA is expected to make a final decision in March.

Former MTA Chief Skeptical for Hudson Yards Development

Friday, February 08, 2008 | New York Sun | Topic: Land Use

Richard Ravitch, Chairman of the Metropolitan Transportation Authority (MTA) from 1979-1983, has doubts about the feasibility of the current plans to redevelop the Hudson rail yards because of the weakening economy. While Ravitch applauded the MTA for its decision to lease the rail yards instead of selling them, he expressed frustration with the MTA for the process in which it has handled the bidding process. Currently the MTA is waiting to hear back from the five bidders on an addendum to the initial Request for Proposals (RFP) that will hopefully provide a more detailed financial plan.

Hudson Yards Deal Includes Additional Expenses for Developer

Wednesday, February 06, 2008 | Crain's New York Business | Topic: General

The Metropolitan Transportation Authority (MTA) is requiring that the developer selected for the Hudson Rail Yards project create a $9.2 million fund intended for improvements to the Long Island Rail Road near Shea Stadium, even though it’s miles away from the primary development site. According to documents sent to interested developers, the MTA would also require additional funds or credits be designated for rail yard and environmental expenses. These funds would be available for the MTA to draw on as needed without having to reimburse the developer if they backed out of the project. Some of the developers competing for the project believe that these additional expenses, along with the MTA’s decision to lease instead of sell the site, vastly complicate the bidding process.

MTA Wants to Lease, Not Sell Hudson Yards

Tuesday, January 29, 2008 | Crain's New York Business | Topic: Economic Development

The Metropolitan Transportation Authority (MTA) announced it would prefer signing a 99-year lease with a developer for Hudson Yards, rather than selling the land located over the railyards. When MTA originally put out its request for proposals, it said it would either sell or lease. Since then, there has been some public pressure not to sell the land because of its potential value to the MTA. The MTA said it would still listen to purchase offers from the developers who have put in bids on the site. A source from one of those development teams says that MTA is also asking for a slice of the profits from the site once it has been leased. The MTA has given the five developers three weeks to respond to comments on the MTA’s preferred deal structures. A developer is still expected to be chosen by March.

Opponents of Hudson Yards Plans Write MTA Chief a Letter

Thursday, January 10, 2008 | New York Post | Topic: Land Use

Community activists of Hudson Yards recently wrote Metropolitan Transportation Authority chief Elliot Sander a letter opposing the current plans for the area. The chair of the Hudson Yards Community Advisory Committee, Anna Levin, argued in the letter that the development proposals are too large in scale and will strain city services.

Report Finds Insufficient Infrastructure for Hudson Yards Plans

Wednesday, January 09, 2008 | Crain's New York Business | Topic: Land Use

The Hudson Yards Advisory Committee released a report indicating that the 26-acre Hudson Rail Yards proposed development will not provide sufficient public infrastructure. Although developers are planning on building a school, a fire station, and a police station, a library, and day cares, the report says that other infrastructure needs to be planned and financed. In addition, the reports suggests that the city seek ways to provide additional affordable housing and funding for the extension of the No. 7 subway.

Three Bids Leading the Way for Hudson Yards

Saturday, December 15, 2007 | Crain's New York Business | Topic: Land Use

Bids by the Related Companies, Tishman Speyer and Vornado Realty Trust are considered by some to be the top choices of the Metropolitan Transportation Authority (MTA) for redeveloping the 26-acre Hudson Yards site, mainly because they have secured significant tenants for partnership. While each developer has put forth its own proposal, some insiders believe that the MTA may approve parts of all three bids, which could effectively keep all the tenants who have agreed to move to the new site. The MTA is expected to make a decision on the bids early next year.

Hudson Yards and Brookfield

Friday, December 14, 2007 | ReportonBusiness | Topic: Land Use

For the Canadian development firm, Brookfield Properties Corporation, approval of their bid for Hudson Yards would instantly transform how individuals in the real estate and development world view them. As of now, Brookfield remains an underdog in its attempt to develop the West Side. If Brookfield gets the full bid from the MTA, it would more than double the company’s portfolio for development projects. Also, it estimated that approval of their bid would increase their operating profits by 40%. One concern in picking Brookfield is that they have not secured an anchor tenant.

Hudson Yards Forum Planned For Public Comments

Monday, December 10, 2007 | Metro New York | Topic: Urban Design & Architecture

On Monday night, the Hudson Yards Community Advisory Committee will host a forum for the public to offer their thoughts on the five bids for Hudson Yards. The Committee is a coalition of elected officials and local community organizations. Aside from this opportunity, it is expected that the public will have significant time for comments as the project must go through the city’s Uniform Land Use Review Procedure (ULURP).

All Five Bidders for Hudson Yards Have Close Ties to Mayor’s Office

Tuesday, December 04, 2007 | New York Observer | Topic: Politics & Government

The five developers who submitted bids for the redevelopment of Hudson Yards all have hired staff with connections to the Bloomberg administration, though the levels of connection vary between bidders. Although some of the hires were made before the developers knew they would be bidding for Hudson Yards, at least one conflict of interest question has been raised in the bidding process. None of the teams, however, have a connection the Metropolitan Transportation Authority (MTA), which has four controlling votes on the selection board.

Hudson Yards Bids Will Depend on Many Factors

Monday, December 03, 2007 | The Slatin Report | Topic: Economic Development

According to The Slatin Report, the overriding priority of the Metropolitan Transportation Authority (MTA) in considering the five bid proposals for the Hudson Yards redevelopment is the financial implications of all the projects, particularly since some of the developers have already secured major tenants. Each bid has significant plusses and minuses, and the final decision will have many ramifications. The future of the development area depends in large part on many unexpected factors, like the political environment, the direction of property values, the state of the economy, and infrastructure needs.

Architect Critiques Hudson Yards Proposals

Saturday, November 24, 2007 | New York Times | Topic: Urban Design & Architecture

In a review of the five bids to redevelop Hudson Yards, New York Times architectural critic, Nicolai Ouroussoff has offered a negative critique of the proposals, citing a lack of design innovation and a failure to marry the large structural scale with public use needs. Though he approves of Extell’s attempts to manage the scale issue and connect the site with the surrounding area, he generally finds the designs to be a “grim referendum on the state of large-scale planning in New York City.”

Public Comments on Hudson Yards Proposals

Tuesday, November 20, 2007 | New York Daily News | Topic: Economic Development

The five Hudson Yards proposals are on display for public comment in a storefront across from Grand Central Station, and they have met with lukewarm reception from the viewing public. Some expressed concerns about overcrowding, and others worried about the affordability of the housing.

Plans for Hudson Yards On Display for Public Comment

Monday, November 19, 2007 | New York Daily News | Topic: Economic Development

The Metropolitan Transit Authority (MTA) unveiled the five bids that were submitted for the Hudson Yards project. On display until December 3rd near Grand Central Terminal are models and renderings of the five different plans that were proposed. All of the plans have "30 million square feet of office space, 15,000 apartments (of which 30% will be permanently affordable) and sweeping open space" according to Deputy Mayor Daniel Doctoroff. All of the plans also propose to protect the High Line and provide some sort of access to the Hudson River waterfront. Four of the five plans propose to build decks to cover the train yards which will continue to operate with the new development. The MTA is expected to make a final decision in 2008

Extell Reveals Details of Bid for Hudson Yards

Friday, November 16, 2007 | New York Observer | Topic: Urban Design & Architecture

The first of five development plans proposed for the Hudson Yards redevelopment was revealed by Extell Development Co. Their bid proposes the construction of several towers which would leave three-quarters of the space available for open space, 25% more than the city’s proposal. The centerpiece of Extell’s bid is a three-pronged skyscraper rising almost as high as the Empire State Building. that is designed and oriented to minimize the shadow it casts over the space below. Extell’s plans also call for geothermal cooling and a park reservoir for water runoff.

Bidders for Hudson Yards Present to MTA

Thursday, November 08, 2007 | Crain's New York Business | Topic: Economic Development

The five developers bidding for development rights for the Hudson Yards project presented their plans to the MTA this week. The MTA accepted bids for the 26 acre site until October 11th. Though the plans are not yet available for public viewing, the MTA will reveal them in part before year’s end, and the MTA board will vote on a developer in February or March of next year.

Bids with Tenants May Have Advantage for Rail yard Project

Tuesday, October 16, 2007 | New York Observer | Topic: Economic Development

Three of the five bids submitted for redevelopment rights of the Hudson Yards included tenants willing to move into the newly created space as well as help finance the projects on the West Side. If the selection process is anything like it was for the old Coliseum site, firms that have secured tenants will look more attractive to both banks and the site owners. In this case, the Metropolitan Transit Authority will form a panel to select a winner. Public input is expected and the selection process is planned to be completed next year.

5 Firms Bid Billions for Hudson Yards Rights

Saturday, October 13, 2007 | New York Times | Topic: Economic Development

Five firms have submitted bids to the Metropolitan Transportation Authority (MTA) to develop the 26-acre Hudson Railyards. According to sources, each bid was near $1 billion dollars. Bids for development, which many believe could change the character of Midtown Manhattan and secure economic and infrastructure development for years, are now available for public review and feedback.

Bids for Hudson Yards Will Face Public Scrutiny

Friday, October 12, 2007 | Crain's New York Business | Topic: Land Use

The Metropolitan Transit Authority announced that bid plans for Hudson Yards will be made available to the public for comment before final action is taken. Plans will be reviewed by the MTA and the Hudson Yards Development Corporation. A final recommendation will be offered by the MTA early next year. It has not been decided, however, at what level and when public input will be considered.

Sherwood Reveals Hudson Yards Development Plans

Tuesday, October 09, 2007 | Other | Topic: Economic Development

Sherwood Equities announced its plans to develop two parcels of land in the Hudson Yards area. One area will become a 35-story apartment building with 200 rental units, while the firm will build either a large hotel or an office complex on the other parcel.

Hudson Yards Development Bids Due Soon

Monday, October 08, 2007 | Crain's New York Business | Topic: Economic Development

Several developers are expected to submit bids for the Hudson Rail Yards development rights by the October 11 deadline. The 26-acre area, "Manhattan's last major development site," is expected to extend Midtown west with a mix of office space, housing and recreational facilities. Questions remain about anchor tenants, affordable housing and the High Line, among other issues, meaning the content of the bids is highly anticipated.

Morgan Stanley, Conde Nast To Bid for Railyard

Saturday, October 06, 2007 | New York Times | Topic: Land Use

Two major firms, Morgan Stanley and Conde Nast, the magazine publisher, are expected to put in rival bids to develop the West Side Railyards. Both bidders are seeking to relocate their headquarters in the recently rezoned 26-acres of land between 30th and 31st Streets along 11th Avenue. These financial firms are working in partnership with major developers to place their bids for the space currently owned by the Metropolitan Transportation Authority (MTA).

High Line Rail Proposal May Prove Unfeasible

Thursday, October 04, 2007 | New York Sun | Topic: Transportation

Developer Durst Organization has proposed a “people mover” that would run between the West Side rail yards and Pennsylvania Station. Officials have criticized the “monorail-like” train as being too costly and the MTA believes the proposal is impractical. In addition, the plan may conflict with the community’s desire to maintain parkland. Bidders for the project recognize the expensive costs and realize that assistance from the city, state, or outside sources would need to be sought.

Light Rail Link to Penn Station Proposed by Bidder

Tuesday, October 02, 2007 | New York Post | Topic: Transportation

A proposal by developer Durst Organization, who is currently a major bidder for development of the West Side rail yards, includes an automated light rail line that would connect the yards to Penn Station. The “people mover” would also connect with the planned extension of the No. 7 subway line. The developer, which would be responsible for managing the light rail line, claims that the train could move 20,000 people per hour. The cost of this project has yet to be reported.

Large Developer Bidding for West Side Railyards

Wednesday, August 22, 2007 | The Real Estate, New York Observer | Topic: Economic Development

Prominent developer Related Companies is preparing a development proposal for the West Side Railyards as the bid deadline approaches in October. The Related Companies’ real estate success at Columbus Circle with the Time Warner building makes the company good competition for the 26-acre site on Manhattan’s West Side, says the New York Observer. The Metropolitan Transportation Authority (MTA) is soliciting bids for the West Side site.

Bidding to Begin on Hudson Yards Development

Friday, July 13, 2007 | New York Sun | Topic: Urban Design & Architecture

Bidding to develop the West Side rail yards is expected to open today, beginning the process which will drastically change the Hudson Yards area. Developers plans may include up to 12 million square feet of mixed-use commercial and residential space, and are expected to contain a large amount of open space. At least five development companies within New York are working on potentials plans for the location.

High Line Restoration to Cost a Pretty Penny

Friday, June 08, 2007 | Crain's New York Business | Topic: Economic Development

The price of restoring the northern part of the High Line, which runs along Manhattan’s far West Side, is estimated at $117 million, according to a report prepared by Tishman Construction for developer The Durst Organization. The Metropolitan Transit Authority, which owns the 13-acre swath of waterfront rail yard, is expected to begin soliciting development proposals starting Monday, June 11.

Concerns Over Hudson Railyards Plans Expressed

Friday, May 18, 2007 | The Villager | Topic: Economic Development

Last week at a public meeting to discuss development plans for the Hudson Railyards, affordable housing and preservation advocates clashed with City and MTA representatives over the mega-mixed-use plans currently in place. These plans include possibly demolishing the historic High Line viaduct and replacing it with a new one. There were also concerns over the fact that only 20% of new housing planned is slated as ‘affordable.’

Bids on Hudson Yards Expected for Next Month

Thursday, May 17, 2007 | New York Times | Topic: Economic Development

The city and the MTA will be accepting bids for Hudson Yards next month, and expect to receive offers from five of New York’s largest developers. The 26-acre site is the proposed site for a third business district for Manhattan, with access to a new and expanded Javitz Convention Center. The extremely large scale of the development makes this process a first for the city. The biggest issues to be faced when receiving bids will be the desired inclusion of affordable housing, which could lower a developer’s value, the desire to preserve the High Line, which could also increase a developer’s costs, and the desire to maximize the revenue that the MTA can receive.

Questions at Hudson Yards Over High Line and Affordable Housing

Sunday, May 13, 2007 | Crain's New York Business | Topic: Housing

As plans for the Hudson Yards progress, two major issues face city officials: what to do with the remainder of the High Line and how to provide proper financing for affordable housing. Hudson Yards is one of the last remaining expanses available for development within Manhattan, and preservation of the High Line could make development more expensive or limit the available land. In addition, the city does not have sufficient tax-exempt bonds to finance the desired ratio of 20% of affordable housing in the area. However, given that construction is not scheduled until 2010, officials believe they have time to find feasible solutions.

Hudson Yards Development Proposals Expected Soon; Few Details

Friday, April 13, 2007 | New York Sun | Topic: Land Use

The city is expected soon to release request for proposals (RFP) for the west parcel of the 26-acre Hudson Yards on the West Side of Manhattan that could begin the largest development project in the city to date, surpassing both Atlantic Yards and the World Trade Center redevelopment. The Metropolitan Transportation Authority (MTA), who owns the development rights above the rail yards, is spearheading the process. According to the Real Estate Board of New York, four developers are currently working on proposals for the site, all of which will likely include an enormous amount of residential and commercial space (13 million square feet in one estimate). The MTA will use development revenue to help support the extension of the 7 line. Much anticipation has surrounded this moment, as the Hudson Yards area is the last large area of Manhattan yet to be developed. While the project has not yet stimulated heated opposition, some contentious issues might include the loss of open space, demolition of the High Line Park in the area of the development, and the MTA's lack of specificity about guidelines. The city hopes to issue an RFP at the end of May.

Hudson Yards Project to Advance with Bond Selling in December

Wednesday, November 22, 2006 | GlobeSt.com | Topic: Finance

New York City is set to sell $1.5 billion worth of Hudson Yards Infrastructure Corp. (HYIC) bonds on December 4 to generate revenue to extend the No. 7 subway line west and south of its current terminus at Times Square Station at Seventh Avenue and 41st Street. The City is obligated to pay interest on up to $3 billion of HYIC bonds if project revenues are insufficient. Financial experts expect, however, that strong demand in Midtown for commercial and residential development will support the bonds.

West Side Railyard Moving Forward

Wednesday, October 11, 2006 | NY1 | Topic: Transportation

Last month, the MTA board signed off on plans to develop its West Side Rail Yards in partnership with the city. Most of the initial investment will go toward extending the number 7 subway line to Eleventh Avenue and 34th Street. Condemnation of buildings needed to make way for the number 7 is expected to move forward over the following months.

Speaker Silver Questions West Side Development

Thursday, October 05, 2006 | New York Post | Topic: Land Use

State Assembly Speaker Sheldon Silver has expressed concern that the Bloomberg administration’s focus on developing the West Side of Manhattan may come at the expense of Lower Manhattan rebuilding efforts. Silver’s comments come one week after the city struck a deal with the Metropolitan Transit Authority concerning development rights atop the West Side railyards and payment for the extension of the 7 subway line.

MTA Board Wants Private Bids but City Still Gets Control

Thursday, September 28, 2006 | NY1 | Topic: Politics & Government

MTA board unanimously approved a plan Thursday to put the West Side Rail Yards site out to bid to private developers. The MTA will receive bids in the spring. The city will not become the developer of the site as had been considered, but will be able to set planning and design guidelines for the site and use tax revenue from whatever’s built to cover the $2.1 billion costs of extending the 7 subway.

Critics of City's Offer Want Private Developers to Bid

Friday, September 15, 2006 | New York Sun | Topic: Land Use

At a public hearing yesterday, Assemblyman Richard Brodsky grilled MTA chairman, Peter Kalikow, over the wisdom of accepting the city's bid of $500 million. The City defends the offer by citing additional benefits to the MTA like support for the No. 7 subway extension.

MTA's Appraisal 3 Times the City's Offer

Friday, September 01, 2006 | New York Times | Topic: Land Use

Bloomberg's plan to buy MTA's West Side railyard was complicated when the MTA, which owns the railyards on both sides of 11th Avenue between 30th and 33rd Streets, received an appraisal this week that pegged the value around $1.5 billion.

Spitzer On West Side Railyards

Saturday, August 19, 2006 | New York Times | Topic: Politics & Government

Gubernatorial candidate, Eliot Spitzer criticized the city’s plan to buy the West Side railyards from the Metropolitan Transportation Authority for $500 million. Spitzer suggests an appraisal of the 26-acre lot followed by an auction to the highest bidder. Spitzer’s statements put him directly opposed to the Bloomberg administration who believes securing the property would be imperative for the development of the Far West Side.

Critics Ready To Weigh In On Tax Incentives

Thursday, August 03, 2006 | New York Sun | Topic: Politics & Government

At a hearing today, critics will question the city's plan to provide hundreds of millions of dollars in tax breaks to help develop a new office district on the far West Side of Manhattan. Some say improving the area's transportation by extending the no. 7 subway line and the recent rezoning of the neighborhood should be enough to entice developers.

Infamous Developer Buying On West Side

Wednesday, August 02, 2006 | New York Observer | Topic: Land Use

Baruch Singer, who owns dozens of tenement buildings in the city’s poorer neighborhoods, has spent $61.7 million dollars with his partners on five lots on or near 11th Avenue since last December.

Local Politicians Standing With the Mayor

Friday, July 28, 2006 | The Villager | Topic: Economic Development

Council Speaker Quinn, joined the mayor in proposing that the city pay the Metropolitan Transportation Authority $500 million for development rights over the yards. The plan would generate $60 billion in new tax revenues over the next 30 years

Round Two: Bloomberg and West Side Development

Thursday, July 27, 2006 | New York Times | Topic: Politics & Government

State officials approved a $1.7 billion expansion of the Javits Center, meaning that construction is likely to begin this year. Along with MTA’s negotiation with the City about selling the West Yards, the Bloomberg administration is closer to realizing an alternative development plan for the Far West Side.

Rail Yards Resolution Gets MTA Approval

Thursday, July 27, 2006 | New York Sun | Topic: Transportation

The Metropolitan Transportation Authority voted yesterday to negotiate to sell development rights on Manhattan's West Side to New York City. It allows chairman Peter Kalikow and executive director Katherine Lapp to discuss plans for the extension of the no. 7 subway line.

MTA's Ready to Deal

Wednesday, July 26, 2006 | New York Daily News | Topic: Politics & Government

The MTA today is expected to seek authorization to strike a development deal for its West Side railyard with the Bloomberg administration. The city has offered $500 million for the property and has taken the position that securing the land is necessary for the future development of the Hudson Yard project and the No. 7 subway line.

Union Challenges MTA on West Yards Deal

Monday, July 24, 2006 | New York Sun | Topic: Transportation

Roger Toussaint, President of Local 100 TWU, and the staff attorney for the Straphangers Campaign, Gene Russianoff, are concerned about the low selling price of West Yards, and they have asked the MTA chairman, Peter Kalikow to postpone the deal.

Spitzer Is Critical of City's West Yard Offer

Saturday, July 08, 2006 | New York Times | Topic: Politics & Government

Elliot Spitzer says the city's offer of $300 million for the development rights to the western yard, and $200 million for 3.42 million square feet of unused development rights from the eastern yard is an unfair offer.

City Goes After West Side Stadium Property Again

Friday, July 07, 2006 | New York Post | Topic: Politics & Government

The city yesterday offered to pay the Metropolitan Transportation Authority $500 million for the right to develop a West Side rail yard that was once the proposed site of a football stadium for the Jets. So far it has not been announced what the plan is for the property.

The City that Never Sleeps – On Sports

Monday, April 10, 2006 | Gotham Gazette | Topic: General

New York is on its way to becoming sports central with the possible adoption of nine new projects all to build major game venues. The Yankees, Mets, Knicks, Rangers, Jets, Giants, Devils, Islanders and soon to be Brooklyn Nets, all have plans to construct new arenas in and around the city. Officials say it will boost the economy while locals object to losing park space and increased traffic.

Arena Upgrades All Around

Friday, April 07, 2006 | New York Sun | Topic: Economic Development

It has been 25 years since New York has seen a new professional sports venue. Now, virtually every team in the city is aspiring to move to a new facility. The Yankees, Mets, Jets, Giants, Knicks, Nets, Rangers, Devils, Islanders, and NASCAR have all indicated their intention to upgrade their current facilities.

Lots of Dollars: Little Sense

Sunday, March 19, 2006 | Other | Topic: Economic Development

Economists are nearly unanimous in the opinion that cities get very little from public spending on new arenas, so why does the money flow so freely? The answer, according to the same economists, is based on politic influence and an irrational tendency known as "fandom."

Judge lets Jets lawsuit proceed accusing Cablevision of antitrust

Tuesday, October 18, 2005 | New York Newsday | Topic: Land Use

A judge Tuesday let the New York Jets proceed with an antitrust lawsuit alleging Madison Square Garden's owner tried to sabotage the city's chance to host the Olympics in order to protect its control of major sports and entertainment events.

Opponents of Queens stadium criticize officials, call for planning

Thursday, October 06, 2005 | Queens Chronicle | Topic: Land Use

Opponents of the Jets' plan to build a stadium in Queens celebrate its abandonment, criticize its political proponents, and call for a plan for Flushing Meadows Park.

Jets, Giants ink deal for new NJ stadium

Friday, September 30, 2005 | New York Newsday | Topic: Economic Development

"The Jets agreed with the Giants to jointly finance and build an $800 million, 80,000-plus-seat football stadium in the Meadowlands that is expected to open in 2009 or 2010. It will be the first NFL stadium to be shared by two franchises from the outset."

Ferrer supports Queens stadium with no public funding

Sunday, September 25, 2005 | New York Daily News | Topic: Land Use

Democratic mayoral candidate Fernado Ferrer supports a stadium for the Jets in Queens, but denounces the use of city funds. The current plan would require $350 million in state and city money.

Jets Report Consideration of Queens Stadium Site to N.F.L.

Saturday, September 24, 2005 | New York Times | Topic: Land Use

The Jets formally announced their consideration of a Queens site for a new $1.35 billion stadium. Opposition has been voiced by the Queens Civic Congress, but politicians have yet to weigh in.

Stadium in Queens sparks opposition

Thursday, August 25, 2005 | Queens Chronicle | Topic: General

Although Queens Borough President Helen Marshall is in support of the Jets relocating to the borough, other officials and community members have voiced their opposition.

Jets and Queens officials meet about stadium

Wednesday, August 24, 2005 | New York Daily News | Topic: Land Use

Queens politicians and Jets representatives met to discuss the proposal for a football stadium in Flushing Meadows/Corona Park.

MTA plan opposed by state and city comptrollers

Tuesday, August 23, 2005 | New York Times | Topic: Land Use

City and state comptrollers oppose a plan by MTA to build a platform over the West Side railyard, which would then be sold to real estate developers.

Queens Olympic site getting attention

Monday, June 20, 2005 | Crain's New York Business | Topic: Economic Development

With the Olympic stadium now proposed for the Willets Point section of Queens, developers have taken a new interest in the area.

NASCAR racetrack is biggest stadium venture of all

Tuesday, June 14, 2005 | Gotham Gazette | Topic: General

Although it has received scant attention in the New York City press, the largest stadium project of all is the 80,000 seat racetrack proposed for Bloomfield, Staten Island.

Loss of Stadium Hurts Bid for Olympics

Monday, June 13, 2005 | Other | Topic: Politics & Government

NYC's 2012 bid lost momentum when a state board failed to approve $300million in funding for the original Olympic/New York Jets stadium plan on Manhattan's West Side.

West Side remains hot, regardless of stadium bid

Sunday, June 12, 2005 | New York Times | Topic: Economic Development

Residential development is moving forward on Manhattan's West Side, regardless of the failure to approve the Jets stadium.

MTA considers future of Hudson Yards

Wednesday, June 08, 2005 | New York Newsday | Topic: Land Use

The rejection of the West Side stadium has cast a shadow over other big projects in the area, including the extension of the 7 train and area's overall redevelopment.

Public Authorities Control Board vote postponed again

Friday, June 03, 2005 | Field of Schemes | Topic: Politics & Government

The Public Authorities Control Board postponed the West Side stadium vote until, at least, Monday, June 6. It may be a long weekend for some staff members working for Mayor Bloomberg, Governor Pataki, Assemblyman Silver, and Senator Bruno.

Judge's ruling removes a legal hurdle to stadium plan

Thursday, June 02, 2005 | New York Times | Topic: Politics & Government

State Supreme Court Justice Herman Cahn ruled on the first of four legal challenges to the West Side stadium plan. This included challenges filed by Cablevision, Betsy Gotbaum, NYPIRG, and others accusing the MTA and the New York Jets of bid-rigging. The lawsuit was dismissed. There are still three lawsuits against the West Side stadium pending.

The return of urban renewal: Dan Doctoroff's grand plans for New York City

Tuesday, May 31, 2005 | Harvard Design Magazine | Topic: General

Susan Fainstein argues that we have entered the post-Robert Moses era of urban renewal in New York City. Daniel Doctoroff and Michael Bloomberg, the masterminds of the new era, invoke economic development rather than slum clearance, but "as in the first stage of urban renewal, [their projects] represent the imprint of a master builder rather than community-based planning."

West Side Stadium vote delayed to June 2

Tuesday, May 24, 2005 | New York Times | Topic: Politics & Government

Assemblyman Silver requested that the Public Authority Control Board vote be delayed and Governor Pataki approved it. The vote is now scheduled for June 2. A state judge is expected to rule on some of the stadium's legal challenges on the same day.

West Side stadium vote set for May 25

Thursday, May 19, 2005 | New York Times | Topic: Politics & Government

The state Public Authorities Control Board vote will only be delayed one week. Pending additional postponements, the vote on the West Side stadium will take place on May 25.

West Side stadium vote delayed

Wednesday, May 18, 2005 | New York Times | Topic: Politics & Government

Senate majority leader, Joseph Bruno, requested a one-month postponement of the Public Authorities Control Board vote on the West Side stadium. Bruno is concerned about financial and legal issues related to the stadium project. That could put the vote as late as June -- just one month before the International Olympic Committee chooses a host city for the 2012 Olympics.

West Side stadium protest

Sunday, May 15, 2005 | New York Newsday | Topic: Politics & Government

More than 300 people gathered in McCaffrey Playground in Hell's Kitchen to protest the building of the West Side Stadium. Stadium opponents argue that public money would be better spent on "affordable housing, health care, and education" than a football stadium. Speakers included Rep. Anthony Weiner, Assemblyman Scott Stringer, City Council Speaker Gifford Miller, Councilwoman Christine Quinn, and Councilwoman Eva Moskowitz.

City Council approves PILOT oversight legislation

Thursday, May 12, 2005 | New York Daily News | Topic: Finance

The City Council voted in favor of requiring City Council approval to plans to spend payments in lieu of taxes (PILOTs). $300 million in PILOT funds are expected to be used to pay for the West Side stadium and this would give City Council additional control over its approval. Mayor Bloomberg's office called the legislation "patently illegal."

Greenpoint-Williamsburg rezoning and PILOT legislation approved

Thursday, May 12, 2005 | New York Times | Topic: Land Use

The City Council voted to approve the Greenpoint-Williamsburg rezoning as well as legislation requiring City Council approval of spending payments in lieu of taxes (PILOT) funds.

West Side Shelly vs. Broadway Joe

Wednesday, May 11, 2005 | Field of Schemes | Topic: Politics & Government

Neil deMause predicts: "The Public Authorities Control Board puts off a stadium vote at its May 16 meeting, citing pending lawsuits over the sale of land for the stadium. If the ruling in those cases, expected June 2, goes in favor of the Jets, that would leave one more PACB meeting in mid-June before the International Olympic Committee picks a 2012 Olympic host in early July."

Proposal to build a stadium on the West Side is meeting significant opposition in Albany

Tuesday, May 10, 2005 | New York Times | Topic: Politics & Government

State Senator Joseph Bruno and, especially, Assemblyman Sheldon Silver are hedging their bets on the West Side stadium. Mr. Bruno seeks a deal that will bring an equal amount of investment to areas outside New York City. Mr. Silver worries that the focus on the stadium undercuts downtown rebuilding efforts.

NYC and national stadium comparison

Monday, May 02, 2005 | Gotham Gazette | Topic: Economic Development

Gotham Gazette is running a feature that compares the New York City stadium proposals with other recent stadium deal around the country. There are some terrific side-by-side comparisons of the proposed Yankees, Brooklyn Nets, and West Side stadiums with those around the country.

A service of the Furman Center for Real Estate and Urban Policy at New York University

A capstone project of the Robert F. Wagner Graduate School of Public Service

Feedback

Community District

Related Project Links

All Projects

QUICK LINKS

Hudson Railyards