Development is abuzz in the Hudson Yards region

TRD New York /
Apr.April 04, 2012 06:00 PM

Development is thriving in the area surrounding the Hudson Rail Yards, the New York Times reported. In fact, this is the most active development period since the Related Companies project was first announced.  Following the rezoning of the area, which spans 28th through 43rd streets west of Eighth Avenue, in 2005,  the Times said 5,000 apartments have been built and more than $5 billion in private funds have been invested in the neighborhood.

Most recently, Iliad Development said it is aiming to break ground on a new 200-unit rental building to be located at 509 West 38th Street during the fourth quarter of this year. According to the Times, this is one of dozens of new developments being planned in the next several years. But not all are currently being developed — Sherwood Equities is holding off on 360 10th Avenue until the economy gets better, it said.

“The activity really began to pick up about six months ago when the announcement that the extension of the No. 7 Subway line was on budget and, more importantly, on time,” Massey Knakal Realty Services Chairman Robert Knakal told the Times. He added that the luxury brand Coach’s decision to set the first office tower within the area further created development buzz within the area. [NYT]

Related Articles

(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

The Observation Deck at Hudson Yards (Credit: Adam Pogoff)

Views from 1,100 feet: A tour of Related’s “the edge,” the tallest outdoor observation deck in the Western Hemisphere

Facebook CEO Mark Zuckerberg and Hudson Yards (Credit: Getty Images and Wikipedia)

Facebook close to finalizing Hudson Yards office deal: report

Cuomo calls Amazon’s Hudson Yards lease “crumbs from the table”

Cuomo calls Amazon’s Hudson Yards lease “crumbs from the table”

Amazon CEO Jeff Bezos and Hudson Yards (Credit: Getty Images and Wikipedia)

Amazon takes big new office space near Hudson Yards

Billy Macklowe and Key Food at 120 Fifth Avenue in Brooklyn (Credit: Getty Images and Google Maps)

Billy Macklowe looking to break into Brooklyn

Clockwise from left: 1 New York Plaza, Hudson Yards, 341 Ninth Avenue and 55 Water Street (Credit: Google Maps, Wikipedia Commons, Getty Images)

These were NYC’s top office leases in November

Facebook CEO Mark Zuckerberg and Hudson Yards (Credit: Getty Images)

It’s official: Facebook is taking 1.5M sf in Hudson Yards