Frank McCourt brings in Hines on $3B project on 10th Ave.

SHoP Architects will design 733,000 sf mixed-use building in Hudson Yards area

TRD NEW YORK /
Sep.September 29, 2014 10:51 AM

Frank McCourt’s MG Properties has brought in Hines as an equity and development partner on 360 10th Avenue, a $3 billion, 733,000-square-foot mixed-use project on the Far West Side. The developer also announced that SHoP Architects will design the project.

McCourt, the former owner of the Los Angeles Dodgers, made his New York real estate debut with the acquisition of the site last year for $167 million, more than three times what seller Sherwood Equities and Long Wharf Real Estate Partners paid in 2011. The deal is one of the biggest bets yet on the Hudson Yards neighborhood.

“We are very pleased to have the world-class team at Hines join us on 360 Tenth,” Drew McCourt, president of MG Properties, said in a statement. “The addition of SHoP’s creativity and innovation is a significant enhancement to the project as we look to blend the residential, retail, and commercial elements into an architecturally-significant addition to the North Chelsea/Hudson Yards neighborhood.”

Vishaan Chakrabarti, a partner at SHoP, said in a statement that the firm hoped to “create a building that evokes the best of historic Chelsea while making a strong contemporary addition to the skyline.”

Hines’ executive Tommy Craig said that the firm welcomed “the opportunity to expand our development work into the heart of Manhattan’s fastest growing new neighborhood.” The Houston-based firm’s other notable projects in New York include a 471,000-square-foot office tower at 7 Bryant Park and the 1,050-foot-tall Jean-Nouvel designed 53W53.


Related Articles

arrow_forward_ios
(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

Steve Ross, Eliot Spitzer and a rendering of 451 10th Avenue (Credit: Getty Images) 

Spitzer, Related land $276M in financing for Hudson Yards senior housing project

From left: 330 Madison Avenue, 66 Hudson Boulevard and 599 Lexington Avenue (Credit: Google Maps)

Law firms topped the list of January’s biggest office leases in NYC

The Vessel (Credit: Getty Images)

Suicide at Vessel raises issue for Hudson Yards attraction

Jeff Blau (Credit: Getty Images)

Related’s CEO talks Hudson Yards and “complicated” projects

The total market value of all properties in New York City was at about $1.4 trillion (Credit: iStock)

Market value of NYC real estate went up at slowest rate in years

arrow_forward_ios
Loading...