Published On: Mon, May 2nd, 2016

Study: Hudson Yards Will Generate Billions in Revenue for NYC

The developer behind the massive project Related Cos. commissioned a study to examine its economic impact on New York

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The company behind the $20 billion Hudson Yards development on Manhattan’s West Side expects economic activity there to eventually rival the gross domestic product of Iceland, according to an analysis released Monday.

Related Cos. is aiming to finish the project between West 30th and West 34th streets—which includes 10.4 million square feet of office space, eight residential buildings, a cultural center and retail—by 2025. A study commissioned by the developer indicated that total economic output of the companies projected to occupy Hudson Yards will contribute $18.9 billion to the city’s gross domestic product. Iceland’s gross domestic product is $15.3 billion.

 

Read the full story at Crains New York, by Joe Anuta

 

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