Pol wants state authority to redevelop Hudson Yards

Assemblyman Richard Brodsky wants Hudson Yards to be developed one parcel at a time, and he wants a state authority created to get the job done. Brodsky announced today that he will file a bill that would use the building of Battery Park City as a model to develop the West Side Rail Yards, following a breakdown in negotiations between the MTA and Tishman Speyer. He argues that the MTA shouldn’t sell the 26-acre property to one developer when the real estate market is bottoming out and the capital markets are seizing up. The new authority would borrow money to buy the rail yards, then sell it bit by bit as developers were ready to build.