$100M Hudson Yards sculpture will be NYC’s Eiffel Tower: Ross

Related founder predicts artwork will be more symbolic than Rockefeller Xmas tree

New York /
Aug.August 30, 2013 08:03 AM

Related Companies founder Stephen Ross is predicting that a still-to-be-designed sculpture at Hudson Yards will be New York’s Eiffel Tower and more symbolic than the Christmas tree at Rockefeller Center — and will be key in making his megaproject “the new heart” of the city.

Ross is putting the gigantic piece of artwork in The Public Plaza of the 13 million-square-foot neighborhood, which is being  developed jointly by Related and Oxford Properties Group. The companies are holding a contest — six famous sculptors, including Richard Serra and Anish Kapoor, have been invited to submit drawings — and are putting the cost at nearly $100 million, Fortune reported.

“This sculpture will be the greatest tourist attraction in New York,” Ross told the magazine. “It will be more than the Christmas tree in Rockefeller Center, but 365 days a year. It will be to this city what the Eiffel Tower is to Paris.”

THe 72-year-old Ross is the only developer willing to helm a project of Hudson Yard’s scope, according to Dan Doctoroff, a former city deputy mayor who now runs Bloomberg LP.

Related has a $20 billion portfolio of largely retail and residential buildings, and according to a Fortune estimate, several hundred million dollars a year in free cash flow. The Midtown West project will span 26 acres, making the largest U.S. private real estate project ever.

“You’re looking at something that will be far greater than Rockefeller Center — that will be the new heart of New York City,” Ross said. [Fortune and Curbed] — Mark Maurer


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
Facebook CEO Mark Zuckerberg and Hudson Yards (Credit: Getty Images and Wikipedia)
Facebook close to finalizing Hudson Yards office deal: report
Facebook close to finalizing Hudson Yards office deal: report
SL Green’s locks in big bank lease at Hudson Yards redevelopment site
SL Green’s locks in big bank lease at
Hudson Yards redevelopment site
SL Green’s locks in big bank lease at
Hudson Yards redevelopment site
Peloton's Barry McCarthy, Hudson Commons (Peleton, Hudson Commons, iStock)
Peloton resorts to sublease at Hudson Commons
Peloton resorts to sublease at Hudson Commons
Steven Ross with the Deauville resort (Getty, Google Maps)
Steve Ross’ redevelopment of historic resort in Miami Beach advances
Steve Ross’ redevelopment of historic resort in Miami Beach advances
Two Manhattan West with Brookfield's Ben Brown and Clifford Chance's Evan Cohen (Brookfield Properties, Clifford Chance)
Law firm takes 144K sf at Brookfield’s Two Manhattan West
Law firm takes 144K sf at Brookfield’s Two Manhattan West
450 11th Avenue and Marx Development Group's David Marx (Marx Development Group, iStock)
Credentials faked on Hudson Yards tower, other projects: report
Credentials faked on Hudson Yards tower, other projects: report
Tishman Speyer CEO Rob Speyer (Photo by Paul Dilakian)
WATCH: Rob Speyer on big bets, past mistakes and the future of NYC
WATCH: Rob Speyer on big bets, past mistakes and the future of NYC
arrow_forward_ios

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

Loading...