Port Authority’s Oculus at WTC to open in March: report

The $4B hub is the most expensive train station on Earth

New York /
Dec.December 24, 2015 10:07 AM

The Port Authority of New York and New Jersey’s Oculus World Trade Center transport hub, 10 years in the making, is finally set to open in March.

The Santiago Calatrava-designed steeled-winged 365,000-square-foot facility at the PATH tran station will ultimately serve around 200,000 passengers and visitors, Politico reported, citing two sources with knowledge of the impending opening.

The project was originally projected to open in 2009, but was vastly delayed by political and bureaucratic wrangling, as well as structural problems at the site, such as leaks. Its cost — $4 billion — was more than twice what initially anticipated.

“It has not been easy for me,” Calatrava told the Wall Street Journal earlier this year. “I have been treated like a dog.”

Westfield Group will operate a $1.4 billion shopping center at the facility, with tenants to include Apple, Daniel Boulud, Eataly and others. The retail has been fully leased.

Retail spaces at the complex range from 800 to 8,000 square feet. The company says it expects to do $700 million to $1 billion in annual retail sales — between $2,000 to $3,000 per square foot. [Politico]Ariel Stulberg

Correction: A prior version of this article identified the Westfield Group as Oculus’ primary developer. 


Related Articles

arrow_forward_ios
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
 Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
The Princeton Club flag in front of 15 West 43rd Street (Google Maps)
Paper Tigers: Princeton Club defaults on $39M mortgage, may lose digs
Paper Tigers: Princeton Club defaults on $39M mortgage, may lose digs
56 Leonard, PH 58 (Getty, Sotheby's)
$30M unit latest in string of deals at ‘Jenga Tower’ as record sale looms
$30M unit latest in string of deals at ‘Jenga Tower’ as record sale looms
Rendering of the Meadowlands Sports Arena with Convention Center (Meadowlands 2040 Foundation)
Convention center planned near American Dream mall
Convention center planned near American Dream mall
Donald Trump with the Trump National Golf Club Westchester (Trump National Westchester, Getty)
Trump Organization facing criminal probe over Westchester golf course
Trump Organization facing criminal probe over Westchester golf course
HUBB’s John McCarthy and with 510 East 88th Street and 181-199 Columbus Avenue (Google Maps)
HUBB NYC doubles down on Manhattan apartments
HUBB NYC doubles down on Manhattan apartments
arrow_forward_ios

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

Loading...