In the coming weeks and months, you're going to see a major transformation underway at the High Line’s northern terminus.
Earlier today Mayor Bloomberg, Speaker Quinn, and executives from the Related Companies and Oxford Properties Groupbroke ground on Hudson Yards – a major real estate development that it set to become the centerpiece of Midtown’s expanded central business district to Manhattan’s West Side.
It’s the largest private real estate project to be realized in New York City since Rockefeller Center. The 26-acre development is situated between 10th Avenue and the West Side Highway to the east and west, and West 30th and West 33rd Streets to the south and north, with a working rail yard owned and operated by the Metropolitan Transportation Authority in the middle. Related Companies and Oxford Properties Group have signed a contract with the Metropolitan Transportation Authority to build 13 millions square feet of new mixed-use development on a platform over the rail yard, and today's groundbreaking marks the official start of construction.
This new neighborhood, called Hudson Yards, will feature 5,000 residences, six million square feet of commercial space, a new cultural facility, retail, restaurants, hotels, a new public school, and more public open space. It will also feature new connections to commuter rail, subway, traffic, and ferry systems, as well as new public open space, including the High Line at the Rail Yards. This third and final section of the elevated railway extends one half-mile north of the High Line park, and wraps around development site.
Take a look at the latest photos and renderings on Hudson Yards’ marketing site for details.
Congratulations to our partners in City and State government and the Related Companies for reaching this important milestone. Today’s groundbreaking is a major step forward for New York City, and we are thrilled that the High Line is integrated with the design and development.
Earlier this year the City of New York acquired the High Line at the Rail Yards from CSX Transportation, Inc., paving the way to begin construction and turn the final section of the elevated railway into public open space. As part of the development of Hudson Yards, Related Companies and Oxford Properties Group will contribute $27.8 million in funding toward the total estimated $90 million cost of capital construction of the High Line at the Rail Yards, as well as additional funding for the park’s ongoing maintenance. We are grateful to the Related Companies for it partnership in opening the High Line at the Rail Yards to the public.