High Line preservation may run $117M

A report prepared by Tishman Construction for the Durst Organization says that preserving the northern portion of the High Line will cost $117 million. The northern section of the elevated rail line will be sold by the MTA along with the rest of the 33-acre Hudson Yards site on the far West Side of Manhattan, and several developers are currently preparing to bid on the property. Thus, developers who bid on the land will have to take the projected cost into account in what amounts to something of a Catch-22 for the site’s buyer: A developer who plans a project for Hudson Yards that includes a teardown of the High Line will likely face fierce criticism from preservationists, but a developer who decides to keep the section of the High Line intact so that it connects to the rest of the future High Line Park will have to pay a hefty sum. more [Crain’s]