New Deal for Hudson Yards

The city released a statement yesterday confirming that the Metropolitan Transit Authority has struck another billion-dollar deal to develop the West Side rail yards, less than a week after the previous deal fell through. May 9th Hudson Yards Update

The MTA says it has chosen Related Companies and Goldman Sachs to build a mixed-use development on the 26-acre plot, just one week after the deal with Tishman Speyer fell apart.

Related's plan is said to include affordable housing, shops, a hotel, restaurants, public space, and art venues. The site is located on 11th Avenue between 30th and 33rd Streets. Related had bid on the 26-acre plot last fall, but initially lost out to Tishman Spyer. Related developed Time Warner Center.

Hudson Yards Development Update

Mayor Michael Bloomberg says the billion dollar real estate deal to develop the West Side Rail Yards is still alive reported NY1.

The MTA called off the deal with Tishman Speyer Properties to develop skyscrapers, apartments, and parks over the 26 acres of railroads along the Hudson River.

Negotiations ended over zoning disputes but the mayor says the disagreement is just a typical snag that big-money deals fall into.

Bloomberg said the 7 line will be extended to the West Side yards, and he's hopeful the zoning issues will be ironed out.

"I don't think it's the least bit fair or accurate to say that anything is dead. I think all of these things go through many cycles, there is an enormous amount of money at stake."

Bloomberg's comments were made from his trip to the United Kingdom today. He met with the new mayor of London, Boris Johnson to discuss transportation, education, traffic and crime-fighting.

Overview of The Hudson Yards