Transformation of Far West Side Begins as New York City Breaks Ground on Hudson Yards

In an effort that will completely redefine Manhattan’s far West Side, the city officially broke ground earlier this week on the massive Hudson Yards project, which will feature at least two LEED Gold office towers.

At long last, New York City has broken ground on the massive Hudson Yards project. With the South Office Tower (Coach’s future LEED Platinum headquarters) already under construction, Speaker Christine Quinn and Mayor Bloomberg joined Related’s Steve Ross on Tuesday in a ceremony to mark the formal start of the historic, $15 billion, 26-acre development that will transform Manhattan’s far West Side over the next decade.

The project, of course, will rise above the MTA’s West Side Rail Yards – the largest remaining block of undeveloped land in Manhattan. To call the project transformative would be an understatement: coupled with the extension of the 7 train from Times Square and – eventually – a redeveloped Moynihan Station, over $2 billion in mass transit improvements will reposition what was formerly a relatively desolate stretch of light industrial properties into a dynamic, mixed-use destination. Of particular interest to us here at gbNYC, architects KPF’s master plan for the project also calls for an impressive number of green building and sustainability-related features.

Again, that plan calls for 5000 apartments in 9 residential buildings, 6 million square feet of commercial office space with 1 million square feet of retail, a 150-room, 5-star hotel, a 750-seat public school, and 20 acres of open public space. It also aims to make Hudson Yards “one of the most sustainable large-scale urban developments of its day, reflecting the new best thinking in high performance and environmentally sensitive design, construction, and operation.” The two office towers – the North tower will break ground once Related secures an anchor tenant – will aim for at least Gold certification under the LEED 2009 rating system for Core and Shell. And, according to Related, they will be “the most energy efficient towers in Manhattan.”

The project will be delivered in two phases: Phase I, Eastern Rail Yard, from 10th to 11th Avenue between West 30th and West 33rd Streets; and Phase II, Western Rail Yard, from 11th to 12th Avenue between West 30th and West 33rd Streets. That second phase will break ground once tenants are secured. The first phase should be completed by 2017.

“Today’s groundbreaking means that the market has spoken and, even in this challenging economy, we’re moving forward to make the far West Side’s economic potential a reality,” said Mayor Bloomberg. “This process started with the city council’s approval in 2005 of our proposed rezoning of the Hudson Yards area. The city’s $3 billion in public infrastructure investment has unlocked even bigger private investment, more than $6 billion of private projects have been completed since 2005. It really can have a multiplier effect and bring real business and real growth to our city.”

About Stephen Del Percio

Stephen Del Percio has written for gbNYC+ since 2006 and currently serves as in-house counsel for one of the world's largest engineering, construction, and technical services companies. He earned a B.Eng. from Columbia, his J.D. at William & Mary, and lives in New York City with his wife and daughter. You can follow Stephen on Twitter, email him at stephen@gbNYC.com, or join gbNYC on Facebook to continue the conversation.

about gbNYC

gbNYC is a multi-disciplinary consulting and real estate services firm. In addition to representing office tenants and commercial buyers in leasing and acquisitions, we also provide innovative consulting solutions from a unique, green building perspective. We advise on green building financial incentives, comment on proposed green building marketing strategies, author white papers, treatises, and market analyses, organize seminars on the LEED process and professional accreditation, and provide advice and analysis on green building risk management and the overall state of green real estate, leasing, and construction, in New York City and beyond.

Our blog, the gbNYC+ journal of real estate, law, + sustainability, delivers consistent, original content - from a New York City perspective - on how technology, data, and sustainability are changing how we interact with our built environment. Subscribe below and receive new articles as they're published or connect with our social media presence to join our ongoing conversation about real estate and sustainability, in the Big Apple and beyond. Contact us at (201) 835-8530 or info@gbNYC.com for more information about our services and to discuss how we can assist you.

, , , , , , ,

Trackbacks/Pingbacks

  1. Big, Bright, & Green: A Closer Look at the Future of Midtown West – insiderater.com - Friday, August 23, 2013

    [...] Transformation of Far West Side Begins as New York City Breaks Ground on Hudson Yards [...]

gbNYC Tenant Resources Feature

tenant resources

The commercial office leasing process is complicated. And so is figuring out where to start your search for office space in New York City. gbNYC's tenant resources - from our blog and leasing FAQ to our unwavering dedication to our clients and commercial real estate - can help you get the best possible deal for your next office, in the best location, and at the best price.
gbNYC Submarket Feature

submarkets

New York City is a big place, and figuring out the most suitable location for your office can seem like an insurmountable challenge. Our submarket guide demystifies Gotham's dizzying range of neighborhoods with profiles, articles, new developments, and recent leasing statistics like average asking rents and vacancy rates.
gbNYC Database Feature

office database

We've built a database of the best commercial properties in New York City, focused on LEED-certified, Energy Star-labeled, and historic office buildings. Search for your ideal office building by location, certification, size, or owner. Then contact us to discuss current availabilities and your specific office needs.