The Real Deal New York

Push to form BID at Related’s Hudson Yards

April 02, 2013 10:00AM

Though construction on Related Companies’ Hudson Yards megaproject has just about begun, there is already a push to create a Business Improvement District in the neighborhood, DNAinfo reported. 

The Hudson Yards Business Improvement District would levy an annual fee on commercial and residential property owners in an area a tad smaller than the land that was rezoned in 2005 as part of the Hudson Yards development effort. The BID seeks to Include Properties From West 42nd Street to West 30th Street From Ninth Avenue to 11th Avenue.

Those spearheading the district hope that it will receive city approval by the fall, and will begin hosting informal discussions about the BID process this month. The proposed budget is $3 million per year.

Barbara Cohen, a consultant working on the project, told DNAinfo she anticipated that it would be a challenge to persuade people outside the confines of Related’s Hudson Yards development to support the BID.

“One of the things we’re going to introduce to people is that the BID is more than the [Related] site — that’s a reflection of the rezoning,” she said. “But with a BID, you have to get over the fact that it’s not just for business.This effort is really to make it a fully-functioning, vibrant, mixed-used district like any other New York City neighborhood.”

A host of developers, landlords and businesses in the area have already expressed support for the BID, the project’s representatives told DNAinfo, but the proposal has yet to appear before Community Board 4. [DNAinfo]Hiten Samtani