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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.

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

 

READ MORE: Stephen Ross

cc-and-hudson- Related-Oxford yards

Dolphins owner Stephen M. Ross is the real estate mogul behind New York’s Related Companies In Manhattan, his company is building the biggest-ever private U.S. development Also developed West Palm’s More…

Buffalo Bills v Miami Dolphins

A number of months in the past, Ross’ New York funding agency, RSE Ventures, bankrolled a start-up referred to as Drone Racing League to work on turning what’s now little greater than an underground More…

Buffalo Bills v Miami Dolphins

The Miami Dolphins of the National Football League announced that the team’s home, Sun Life Stadium, will undergo a $400 million renovation and modernization over the next two years to enhance the fan experience More…

15-Hudson-Yards-New sm

– The first renderings for the new residential tower being constructed by Stephen Ross’ Related Companies at the West Side of Manhattan’s massive Hudson Yards development have been revealed,  New York More…

 

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