Developers connect Hudson Yards to other projects

New York /
Nov.November 20, 2007 11:01 AM

Proposals for the Metropolitan Transportation Authority’s Hudson Yards land on the far West Side, which the agency put on display today, might reveal less about the waterfront site’s potential to become a real neighborhood by 2015 than they how they connect to other big projects by the five bidders.

All five proposals for the 26 acres are energy-efficient and pedestrian-friendly, with acres of open space. But they differ in ways that reflect their bidders’ existing portfolios.

Some would complement their bidders’ key holdings. The Related Companies, which owns the Time Warner Center, proposes to build an office-retail beachhead for News Corporation that would let Related play huge media brands against each other. “We will also have similar retail to what we have at Time Warner,” said Related executive Bruce Warwick.

Tishman Speyer’s bid with Morgan Stanley, for a mix of offices and waterfront apartment towers, seeks to complement Rockefeller Center, which the developer owns. President Rob Speyer said it “didn’t want to end up with a canyon of buildings.” Plans include an amphitheater and a grand staircase bridging the Eastern and Western railyards.

A joint venture of the Durst Organization and Vornado Realty Trust imagines an underground people-mover to the future Moynihan Station, where Vornado is working with Related on a huge chunk of commercial space around Penn Station.

Extell Development’s bid, with suspension-hung concrete and steel supporting a pastoral mid-site park, begins with a skybridge from a tower Extell is constructing to the High Line along Hudson Yards’ southern edge at Tenth Avenue. “This is great cafeacute; space,” said Extell chief Gary Barnett, “and we will do a four or five star hotel.”

And Brookfield Properties’ design emphasizes the street grid’s continuity from West Chelsea, where it controls two building sites. Brookfield CEO Richard Clark says he would likely build residential towers first, giving the commercial market time to settle.

Developers’ immediate concerns might reflect the MTA’s brief window for design development. The authority requested proposals in July and collected them in October: it hopes to award the site to a bidder by early next year.

The lack of time to study options may have induced three bidders to include all of the High Line, a railroad trestle becoming a city park that has sparked lucrative condo projects further south.

Durst-Vornado plans of preserving most of it. It imagines replacing it with a new elevated walkway at the waterfront’s edge, where a drop in elevation might raise construction headaches if the High Line is preserved. Some observers expected Durst-Vornado to erase the High Line from most of its site.

For some bidders, the High Line makes an anchor. “It’s exciting on the northern end of the High Line,” Barnett said. 


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)
Hudson Yards megadevelopment inspires a new line of sex toys
Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)
Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Wendy Silverstein (Credit: Getty Images)
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
SL Green cut the ribbon on One Vanderbilt Monday as business leaders push companies to return to the office (Credit: Jakob Kahlin)
Goldman Sachs, Wells Fargo leading $2.25B refi of One Vanderbilt
Goldman Sachs, Wells Fargo leading $2.25B refi of One Vanderbilt
From left to right: Gov. Andrew Cuomo, Tony Malkin, Larry Silverstein, Douglas Durst, Steven Roth and Bill Rudin. (Getty)
Vornado, Empire State Realty Trust pledge total carbon neutrality by 2035
Vornado, Empire State Realty Trust pledge total carbon neutrality by 2035
Avishai Abrahami with Ziel Feldman and Nir Meir, and 500 Bailey Ave, Buffalo, NY; 707 Spence Lane, Nashville, TN; 1100 Milwaukee Avenue, South Milwaukee, WI (Getty, Google Maps, NY Supreme Court)
Ziel Feldman, Nir Meir accused of fraud over $30M loan
Ziel Feldman, Nir Meir accused of fraud over $30M loan
Joe Moinian and Marc Holliday with a rendering of 605 West 42nd Street (Moinian, SL Green, Hill West Architects)
Moinian deal with SL Green values Sky apartments at $850M
Moinian deal with SL Green values Sky apartments at $850M
A&E's James Patchett and SL Green's Marc Holliday. (A&E, SL Green, Stonehenge)
A&E buying SL Green apartments at $130M valuation
A&E buying SL Green apartments at $130M valuation
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...