High Line has brought $2 billion to Chelsea, according to the city

TRD New York /
Jun.June 06, 2011 01:19 PM
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Sam Zell, a rendering of his 500 West 23rd Street project, Alf Naman and a rendering of his 515 West 23rd Street project

The High Line has been responsible for $2 billion of private investment, 12,000 new jobs and 29 development projects since opening in June 2009, show city figures cited by the New York Post. In 2010 alone, almost 2 million people visited the park, which opened its second section, between West 20th and 30th streets on Wednesday. “This is something I don’t think anyone expected,” Mayor Michael Bloomberg said. “I don’t think anyone expected this economic impact.” As reported in the June issue of the The Real Deal famed developer Sam Zell and Alf Naman are among those parlaying the success of the High Line into new developments with forthcoming condominiums at 500 West 23rd Street and 515 West 23rd Street, respectively. The Standard Hotel, a new Whitney Museum and several other condos are among the other major projects that have brought business to West Chelsea. But the Post quotes one resident who laments the lack of neighborhood feel despite the new developments. [Post]


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