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NYguy

Jun 12, 2025 12:53 AM

Curious to see if they will still be using a similarly designed podium for the northern towers. I don't think this is a fully redesigned rendering.

https://www.crainsnewyork.com/real-e...oject-which-no

https://s3-prod.crainsnewyork.com/hu...S%3D1749689481

NYguy

Jun 12, 2025 1:01 AM

We've moved on from the casino here. Meanwhile, this bs goes on (and by bs, I'm talking about the idiots involved, not the casino)...

https://www.cityandstateny.com/polit...-skybox-author

City Council narrowly bets on Bally’s home rule message, going against local member
The City Council’s approval comes after Mayor Eric Adams lowered the threshold to get it passed.

By Annie McDonough
June 11, 2025

Quote:

The bid for a casino in the Bronx will live to fight another day. The New York City Council narrowly granted a local approval needed for the state Legislature to allow a casino to be built on parkland at Ferry Point in the Bronx, where the Bally’s Corp. is vying for a license.

But to do it, the City Council voted against the local member in the district, Council Member Kristy Marmorato, who sharply criticized the efforts of Bally’s in the process.

“This isn’t just a bad proposal. It’s been a disgraceful process,” Marmorato said during the vote, accusing Bally’s and its lobbyists of going around her to drum up support. Bally’s did not immediately comment in response.

Quote:

Mayor Adams’ office said they granted Bally’s request for a message of support out of a desire to keep all casino bids in the city competitive. “Mayor Adams supports a fair process with as many competitive casino bids in New York City as possible, each of which would bring good-paying union jobs and an economic boost to the community,” Fowler said. “It does not matter which proposal is selected by the state so long as it’s in New York City. We would be supportive of more than one selection in New York City, but that requires more than one competitive proposal.”

Idiots, all of them.

NYguy

Jun 13, 2025 3:43 PM

As we prepare for the next platform over the railyards...

• Video Link

ChiND

Jun 13, 2025 3:53 PM

The facade on these towers looks great.

https://s3-prod.crainsnewyork.com/hu...S%3D1749689481

ChiND

Jun 17, 2025 1:59 PM

NY Guy, could the large office tower start construction before the deck work commences? I assume that if the platform begins construction in early 2026, it would take at least two years to finish. I don't recall how long it took to complete the eastern deck.

NYguy

Jun 17, 2025 3:27 PM

Quote:

Originally Posted by ChiND (Post 10442727)

It’s pretty much one and the same. Related has to finalize its mix for Site C (the northern portion) which could contain office, hotel, and residential components.

https://a4.pbase.com/o12/06/102706/1...P.IMG_2849.JPG

ChiND

Jun 17, 2025 3:29 PM

So if Related secured a tenant today, could they start the office tower in 2026?

NYguy

Jun 17, 2025 5:38 PM

Quote:

Originally Posted by ChiND (Post 10442785)

So if Related secured a tenant today, could they start the office tower in 2026?

https://nypost.com/2023/05/28/hudson...0b-casino-bid/

Quote:

May 28, 2023

”We could start building another office tower right now,” Blau said. “We’re out of room” for tenants eager to pay $200 a square foot for space.

ChiND

Jun 17, 2025 5:49 PM

Quote:

Originally Posted by NYguy (Post 10442876)

https://nypost.com/2023/05/28/hudson...0b-casino-bid/

That’s interesting. I thought that they had to wait for the western deck. I’m sure they’re pitching to Blackstone, though I hope that RXR gets them to anchor 175 Park.

DCReid

Jun 17, 2025 7:33 PM

Quote:

Originally Posted by ChiND (Post 10442887)

That’s interesting. I thought that they had to wait for the western deck. I’m sure they’re pitching to Blackstone, though I hope that RXR gets them to anchor 175 Park.

It seems clear to me that the buildings go on the deck over the rails, and therefore the deck has to be built first.

ChiND

Jun 17, 2025 7:44 PM

Quote:

Originally Posted by DCReid (Post 10442986)

It seems clear to me that the buildings go on the deck over the rails, and therefore the deck has to be built first.

That’s what I assumed, but NY Guy knows this topic. I think he’s an engineer.

NYguy

Jun 17, 2025 10:17 PM

Quote:

Originally Posted by ChiND (Post 10442887)

That’s interesting. I thought that they had to wait for the western deck. I’m sure they’re pitching to Blackstone, though I hope that RXR gets them to anchor 175 Park.

It will happen simultaneously, same as it did with 30 Hudson.

https://a4.pbase.com/o9/06/102706/1/...281484b_wm.JPG

https://a4.pbase.com/o9/06/102706/1/...281467b_wm.JPG

ChiND

Jun 17, 2025 10:20 PM

Quote:

Originally Posted by NYguy (Post 10443137)

It will happen simultaneously, same as it did with 30 Hudson.

30 HY seems so long ago, not to mention, I did not work near there at the time. I don't recall how it played out. (I was in Sheboygen Elementary.)

Can they also build the apartments simultaneously too? It seems like all of the buildings are on the periphery for Phase II, and just the park is in the middle.

NYguy

Jun 17, 2025 10:25 PM

Quote:

Originally Posted by ChiND (Post 10443142)

Sites A and B will be built into the earth, as they aren’t over the rails, much like the Coach Tower and 15 Hudson.

ChiND

Jun 17, 2025 10:37 PM

Thanks. I wonder how tall these apartment towers will be. 4,000 apartments in 3 towers that also contain a school seems like a lot.

https://a4.pbase.com/o12/06/102706/1...bLye5U.d12.jpg

gflny03

Jun 18, 2025 2:08 PM

Passed 70HY and activity seems to be starting to prep site for construction now that Deloitte has signed as anchor.

If Related starts with phase II (including office tower) in the coming years, do ppl think BXP for 3 Hudson or other nearby empty properties would possibly build on spec to compete with new supply?

montydawg

Jun 18, 2025 4:28 PM

Quote:

Originally Posted by NYguy (Post 10443148)

Sites A and B will be built into the earth, as they aren’t over the rails, much like the Coach Tower and 15 Hudson.

Sites A and B are directly over the gateway tunnel, which has another year before it completes, so those sites may need to wait longer.

NYguy

Jun 19, 2025 1:38 AM

Quote:

Originally Posted by montydawg (Post 10443501)

Sites A and B are directly over the gateway tunnel, which has another year before it completes, so those sites may need to wait longer.

Not really. As in the first phase, the tunnel casing, buildings, and platform were all constructed simultaneously.

NYguy

Jul 1, 2025 2:26 PM

https://therealdeal.com/new-york/202...-and-saved-2b/

Related’s $2B card trick
How Jeff Blau played city government and Wynn

https://static.therealdeal.com/wp-co...B-1024x640.jpg

By Erik Engquist
July 1, 2025

Quote:

There’s an old saying in poker: If you don’t know who the fish is at the table, you’re the fish.
I can’t shake the feeling that Related Companies played the latest Hudson Yards rezoning brilliantly, at the expense of its former partner in the planned development, Wynn Resorts, and city officials as well.

Wynn had joined Related on the project because it initially included a casino, but that proved to be a no-go for the local City Council member, Erik Bottcher. Because the casino and rezoning needed Council approval, Bottcher had the ability to kill them on behalf of the entire Council, thanks to the chamber’s tradition of “member deference.”

Predictably, Bottcher nixed the casino, which he didn’t even have to do to Wynn executives’ faces because they weren’t in the room during negotiations. Only Related was.

Related, which builds residential and office buildings, not casinos, willingly sacrificed the gaming venue (which might not have won a state license anyway) to get approval for the rest of its project. That left Wynn with no role.

Wynn promptly blasted the city’s rezoning process as if surprised at how it works. Really? It’s not plausible that such a large, experienced company would have pursued a multi-billion-dollar project without fully understanding the Uniform Land Use Review Process.

NYguy

Jul 1, 2025 2:33 PM

https://therealdeal.com/new-york/202...b-2026-budget/

Council signs off on Hudson Yards funding model

By Kathryn Brenzel
July 1, 2025

Quote:

During Monday’s vote, the Council also passed a resolution paving the way for Related Companies to use surplus payments in lieu of taxes, or PILOTs, to pay for a $2 billion platform over the Western Rail Yard at Hudson Yards.

PILOTs similarly helped pay for the first phase of Hudson Yards. Under that arrangement, a nonprofit development entity created by the city issued bonds to pay for infrastructure upgrades and other upfront development costs. Instead of paying taxes, Related used portions of revenue from the commercial development to repay principal on the bonds. Surplus revenue went into the city’s general fund (in fiscal year 2025, the surplus payments totaled $394 million).

The resolution approved Monday specifies that Related’s ability to use this funding model will be contingent on it securing an anchor tenant for the office tower planned for the Western Yards — either with a signed lease or purchase agreement.

The resolution also requires a determination by the mayor that the project “promotes the public interest and maximizes, to the extent feasible, benefits to the public, including but not limited to, creating open spaces, developing affordable housing, and facilitating the construction of new public schools.”

NYguy

Jul 2, 2025 12:44 AM

https://www.costar.com/article/87150...f-hudson-yards

New York OKs financial plan to help bring completion of Hudson Yards
Funds are contingent upon finding anchor tenant for proposed office building

By Andria Cheng
July 1, 2025

Quote:

The PILOT financing is contingent upon the developers landing an anchor tenant for the proposed office tower.

Besides the platform infrastructure, the open space in the plan also will be financed through the PILOT method, which also was tapped for the first phase of Hudson Yards, the developers said. The project has remitted more than $500 million in excess revenue to New York City, with $2 billion more projected by 2028, they said.

City Comptroller Brad Lander in 2023 said Hudson Yards’ payments to the city were coming in about $200 million above projections annually, describing it at the time as “a bright spot in the commercial real estate sector.”

https://commercialobserver.com/2025/...yards-related/

New York City Council OKs Financing Plan for Related’s Hudson Yards Project

https://commercialobserver.com/wp-co...3&h=489&crop=1

By Andrew Coen
July 1, 2025

Quote:

“This is a historic moment for New York City, and this complex and transformational project would not be moving forward without the strong support and collaboration we’ve had from our city leaders on both sides of City Hall,” Jeff Blau, CEO of Related Companies, said in a statement.

Related’s Hudson Yards project will designate 625 of the 4,000 apartments as affordable housing.

The development will also include developing a 2.4 million-square-foot office tower, a hotel, a new public elementary school and 6.6 acres of public green space.

DCReid

Jul 2, 2025 2:16 PM

"The PILOT financing is contingent upon the developers landing an anchor tenant for the proposed office tower."
So, does this statement mean that they will probably not start any construction until they sign an anchor office tenant?

ChiND

Jul 2, 2025 2:30 PM

How big was the Foster office tower that was proposed for the south side of the site?

I wonder if they'll use the same design.

Quote:

The development will also include developing a 2.4 million-square-foot office tower,

NYguy

Jul 2, 2025 3:01 PM

Quote:

Originally Posted by DCReid (Post 10450031)

The office tower is what will allow the PILOT financing, but they are also likely to seek state financing for the residential units, which would increase the affordable component to 25%, or about 1,000 of the 4,000 units. As far as the office tenant goes, Related both sells and rents office space. Half of their space in Hudson Yards has been office condos. But either way, they always seem to pull tenants out of thin air, and have been pushing to get a new office tower on the market. (Most of the space at the recently started 70 Hudson was snatched up)

Quote:

Originally Posted by ChiND (Post 10450040)

How big was the Foster office tower that was proposed for the south side of the site?

I wonder if they'll use the same design.

Probably not. This tower would have slightly more space, up from a 2 msf tower.

But overall size and height will be determined by design. A look at some of the newer office towers that have risen in recent years....

1 Vanderbilt 1.3 msf (1.65 total)

https://a4.pbase.com/o12/06/102706/1...CAt5T.5005.JPG

270 Park Avenue 1.87 msf (2.5 total)

https://a4.pbase.com/o12/06/102706/1...7.IMG_3355.JPG

The Spiral 2.22 msf (2.6 total)

https://a4.pbase.com/o12/06/102706/1...XRe.Spiral.JPG

50 Hudson 2.26 msf (2.86 total)

https://a4.pbase.com/o12/06/102706/1...50Hudson2b.jpg

ChiND

Jul 2, 2025 3:10 PM

I hope that they build a more dramatic design than the Foster tower that was shown. It would be nice to have something very iconic here.

NYguy

Jul 2, 2025 3:53 PM

Condensed PILOT agreement...

https://a4.pbase.com/dev_o1/06/10270...00K6zWi.a7.jpg

https://a4.pbase.com/o12/06/102706/1...hQO1ObH.a1.jpg

https://a4.pbase.com/o12/06/102706/1...vdng16Z.a2.jpg

https://a4.pbase.com/o12/06/102706/1...8cNyTn8.a3.jpg

https://a4.pbase.com/o12/06/102706/1...r6sADZo.a4.jpg

https://a4.pbase.com/o12/06/102706/1...9VMs6gX.a5.jpg

https://a4.pbase.com/o12/06/102706/1...8pRGTk5.a6.jpg

BK1985

Jul 2, 2025 6:45 PM

Quote:

Originally Posted by ChiND (Post 10450058)

I hope that they build a more dramatic design than the Foster tower that was shown. It would be nice to have something very iconic here.

I'm pretty sure all the buildings on the western yards were designed by SOM

BK1985

Jul 2, 2025 6:47 PM

I wonder if the residential units will be increased given CoY passed. 4,000 is alot but the site can and should support more.

NYguy

Jul 2, 2025 7:34 PM

Quote:

Originally Posted by BK1985 (Post 10450185)

I wonder if the residential units will be increased given CoY passed. 4,000 is alot but the site can and should support more.

The entire zsf allowed for the entire lot is set. Like the eastern yards, it will be built to an insanely low FAR (almost 10). That’s because people somehow think the city is better served by massive amount of open space. Never mind that Hudson River Park, the High Line, the open spaces in eastern yards, and Hudson Boulevard & Park are all right there. More should have been built here.

But the 4,000 units seem to have been focused on the 3 towers on the southern half. There is a planned smaller resi tower on the NW side of the site, west of the office tower and hotel.

https://a4.pbase.com/o12/06/102706/1...SizeRender.jpg

https://a4.pbase.com/o12/06/102706/1...e.IMG_1472.JPG

ChiND

Jul 2, 2025 7:36 PM

Quote:

Originally Posted by BK1985 (Post 10450183)

I'm pretty sure all the buildings on the western yards were designed by SOM

Thanks. I knew that the one residential was designed by SOM because the base looks like 175 Park, but I thought that the office tower was a Foster. Hopefully, SOM will design something of 175 Park's caliber.

mrnyc

Jul 2, 2025 7:54 PM

whatever gets the western yards finally decked over i am down with.

NYguy

Jul 2, 2025 8:01 PM

Quote:

Originally Posted by ChiND (Post 10450218)

No, it was all SOM, and likely still will be.

https://a4.pbase.com/o12/06/102706/1...24Scoping2.png

ChiND

Jul 2, 2025 8:31 PM

Thanks!

NYguy

Jul 4, 2025 4:48 PM

A little more on specifics from Related...

https://www.related.com/press-releas...evelop-western

City Council approves financing that enables historic plan to develop the Western Railyards, substantial increase in housing

Jun 30, 2025

Quote:

In a culmination of the decades-long vision to revitalize Manhattan’s far West Side, the New York City Council today approved the payment-in-lieu-of-taxes PILOT model following the approval of the zoning modifications needed to develop the next phase of Hudson Yards atop the Western Railyards.

This financing structure will fund a $2 billion platform over the active rail lines, unlocking the site for housing and open space without diverting city operating dollars. The approval is a result of more than a year of community engagement and feedback over the proposal and cements a historic agreement between City Hall, the New York City Council, and Related Companies/Oxford Properties Group.

Quote:

The next phase of Hudson Yards will be among the largest injections of housing into the Manhattan market in decades. The full plan includes:

-Creating up to 4,000 new homes on the site, a significant increase from the initial plan

-Designating at least 625 units as on-site affordable housing, with a commitment to make 25% of all rental apartments on site affordable if 485-x is applicable

-Expanding the overall affordable housing associated with the Hudson Yards project to 1,734 units created or preserved

-Unlocking 6.6 acres of public green space, including a children’s playscape, dog run, and one-acre open lawn adjacent to The High Line — an element consistent with the community’s vision in the original 2009 zoning

-A new 2.4 million square foot office tower and a world-class hotel

-A new K-8 Public School and daycare facility

-Reducing podium height and density on the northern side of the site

-Generating 35,000 union construction jobs

-Delivering more than $2 billion in revenue for the MTA and New York’s subways

Quote:

The platform infrastructure and open space in the plan will be financed through a proven PILOT model that leverages incremental property taxes created by the project. This model has precedent in funding infrastructure improvements in the successful development of the Hudson Yards district, which has remitted more than $500 million in excess revenue to New York City, with $2 billion more projected by 2028.

In addition to housing and green space, the project will deliver significant public infrastructure, including an approximately 750-seat school in collaboration with the School Construction Authority and the reprofiling of West 33rd Street to meet the newly mapped elevation of 11th Avenue — ensuring improved pedestrian and vehicular access.

BK1985

Jul 4, 2025 5:21 PM

Here’s hoping for a decent design and not another chunky box. Lol

ChiND

Jul 4, 2025 5:21 PM

This is going to be magnificent.

I hope that Larry wins the casino to continue the momentum of development in this area.

NYguy

Jul 4, 2025 5:30 PM

Quote:

Originally Posted by BK1985 (Post 10451111)

Here’s hoping for a decent design and not another chunky box. Lol

I think the odds are in our favor due to the programming at the site. 50 Hudson is way to bulky for its height. We don't need a repeat.

It's still not entirely clear what the podiums will contain. A movie theater complex like was originally being considered on the eastern half would be nice. Related hasn't spoken much about the podiums, just that they will be lower than what was planned with the casino.

https://a4.pbase.com/g13/06/102706/2....a6427279.JPEG

https://a4.pbase.com/o12/06/102706/1...lFCLuoW.a4.jpg

NYguy

Jul 4, 2025 6:10 PM

NYguy

Jul 6, 2025 5:05 PM

While there are firms ready to jump into the newly built towers, some of the older towers in prime locations and investments in upgrades manage to hold on. Still, I expect Related and the other developers of proposed office towers won't have trouble in the coming years grabbing tenants. Too many to go around, so little being built.

https://therealdeal.com/new-york/202...-office-lease/

Paul Weiss expands on massive Midtown office lease
Sublease of 85K sf brings total space at 1345 Sixth to 850K sf

Jul 3, 2025

Quote:

Paul, Weiss, Rifkind, Wharton & Garrison signed one of the country’s largest office leases in 2023, taking 765,000 square feet at Fisher Brothers’ 1345 Sixth Avenue in Midtown Manhattan.

The law firm has added to that peak deal, signing a sublease for an additional 85,000 square feet at the property, the Commercial Observer reported. The expansion brings the law firm’s space at the property to a whopping 850,000 square feet.

Prior to that lease, Fisher invested $120 million into the property for capital improvements, updating the exterior and adding an amenity floor and a public art installation. Ownership remains on the hook for $200 million in tenant improvements, largely dedicated to Paul Weiss; the law firm also secured $150 million in rent concessions.

NYguy

Jul 10, 2025 1:49 AM

https://www.nj.com/news/2025/07/work...mmer-heat.html

Workers racing to build the Hudson River rail tunnels face sweltering summer heat

Jul. 09, 2025

Quote:

In the year since the Hudson River rail tunnel project got its record-breaking $6.8 billion federal grant, armies of workers spread across five locations have battled extreme weather and the realities of urban construction as they build the $16 billion Gateway tunnel.

Most of the work by the 11,200 construction workers, who have faced sweltering heat and freezing cold, has been out of the public view.

Quote:

The workers are the stagehands and set builders preparing for the big show that will be the first tunnel drilling project under the Hudson River in over a century.

The worksites vary: From rock drilling at the soaring Palisades in North Bergen to hammering out a deep, giant trench wedged between Hudson Yards that is crisscrossed by the historic High Line elevated walking trail.
And one project isn’t even on land, it’s in an artificial rectangular dam created in the middle of a turbulent Hudson River.

“When it’s done, we’ll have four good-as-new tubes to serve for the next 100 years,” said Steve Sigmund, Gateway Development Commission spokesperson. “Ten mega projects will be made into one.”

NYguy

Jul 15, 2025 12:06 AM

SOM hasn't updated the project page yet, so last look at these renderings...

https://www.som.com/projects/hudson-yards-west/

https://www.som.com/wp-content/uploa...105-scaled.jpg

https://www.som.com/wp-content/uploa...395-scaled.jpg

https://www.som.com/wp-content/uploa...370-scaled.jpg

NYguy

Jul 16, 2025 11:59 PM

• Video Link

NYguy

Sep 28, 2025 8:49 PM

With the casino dead, time to go back to old school bitchin…

https://www.nytimes.com/2025/09/26/n...companies.html

Hudson Yards Developer May Get Another $2 Billion Boost From New York

Matthew Haag and Dana Rubinstein
Sept. 26, 2025

Quote:

New York City is poised to pay $2 billion to build a platform over a Manhattan rail yard at the behest of one of the country’s biggest developers, who would then erect mostly luxury housing along the Hudson River.

…. When community opposition killed Related’s casino bid last spring, the new assistance package quickly rose from the casino bid’s ashes. It was approved in weeks, with Mayor Eric Adams and the City Council agreeing with the developer’s assurances that the complex arrangement made economic sense.

Quote:

A spokesman for the City Council said its finance division had conducted an “in-depth analysis” of the deal as proposed by Related, and signed off on it before it was approved.

“We took additional time for this analysis, with the goal of protecting the use of taxpayer dollars,” said the spokesman, Rendy Desamours. “It is a fiscally responsible path forward.”

NYguy

Sep 29, 2025 1:46 AM

Folks, the article wasn’t an attempt to steer this thread into personal politics. If and when this is affected at all, we will touch on it - as it relates to this development. Until then, the politics go elsewhere.

NYguy

Oct 26, 2025 2:22 AM

Always sad to see...

https://www.enr.com/articles/61715-w...tunnel-project

Worker Falls to Death at NYC Hudson Yards Tunnel Project
The fatality occurred at the Gateway Tunnel site in New York City

https://www.enr.com/ext/resources/20...p?t=1761262550

By Jim Parsons

Quote:

A construction worker at the massive Hudson Yards Amtrak tunnel project in Manhattan died on Oct. 23 after falling into an excavated pit.

The worker, an employee of New York Concrete Corp. of Staten Island, reportedly was at ground level at the Hudson Yards Concrete Casing 3 (HYCC-3) site when he fell 60 ft to the bottom through an opening just before 9 a.m. According to the Fire Dept. of New York’s social media posts, first responders performed a high-angle rescue using a stretcher basket and a “construction apparatus” to extract the worker, who has not been publicly identified. Local media reports say he was transported to a local hospital in critical condition, but was later pronounced dead.

https://www.nytimes.com/2025/10/23/n...yards-nyc.html

Worker Dies After Falling at Construction Site for Hudson Tunnel Project
The man, who was working at a site at Hudson Yards in Manhattan, fell 60 feet into a pit below, according to the New York Fire Department.

https://static01.nyt.com/images/2025...y=75&auto=webp

Quote:

The worker fell about 60 feet, Anthony Romano, a battalion chief at the New York Fire Department, said at a news conference on Thursday morning. The authorities did not immediately release his name; the union he belonged to later identified him as Jorge Sanchez, 52.

Chief Romano said the man had been working on a recently poured foundation wall when he fell into a pit below just before 9 a.m. “We do not know how or why,” Chief Romano said.

About 60 fire and emergency medical personnel were called to the scene after the fall, according to the Fire Department. They found that Mr. Sanchez was not breathing and had no pulse. He was lifted from the pit on a stretcher and taken to a hospital.

https://i0.wp.com/w42st.com/wp-conte...50%2C938&ssl=1
https://w42st.com/post/massive-machi...ateway-tunnel/

NYguy

Nov 19, 2025 1:32 AM

Everything is controversial with these people...

https://www.crainsnewyork.com/real-e...rn-development

City board advances controversial Hudson Yards western development plan

Julianne Cuba
November 18, 2025

Quote:

A controversial plan that would clear the way for Related Cos. to receive a massive tax break to develop the western section of Hudson Yards inched one step closer Tuesday with a stamp of approval from members of an obscure city-appointed board.

The city's Industrial Development Agency, an entity managed by the city's Economic Development Corporation, voted in favor of a resolution amending the area's so-called Uniform Tax Exemption Policy to include the underdeveloped Western Rail Yard. That's where Related wants to build a sprawling, primarily residential megaproject on what is now open rail tracks. The proposal would include four mixed-use towers with roughly 4,000 residential units, several acres of green space and a new school.

Quote:

If ultimately approved by the mayor, Related would benefit from payments instead of taxes to help fund the $2 billion platform. Nonprofits such as the New York Communities for Change have likened the proposal to a "billionaire bailout" because it redirects Related's property taxes to fund the construction. The concept is similar to the payment plan used to build the first half of Hudson Yards.

The IDA board's vote follows the City Council's June approval of the zoning change for the project, which formerly included a casino. In May, Related CEO Jeff Blau announced that it was abandoning its proposal to include the casino and instead would seek the $2 billion tax break from the city to build the platform.

Councilman Erik Bottcher, who represents the neighborhood, said in June that the project is poised to bring one of the biggest boosts to the city's housing supply in recent decades.

Quote:

Tuesday's vote only expanded the existing boundary of development sites eligible to apply for such tax breaks to include the Western Rail Yard. It did not, however, approve any tax exemptions. Specific projects within that area will need to go through the IDA's full application and review process to break ground. That typically takes about three months, according to the IDA website, meaning that decisions about the Western Rail Yard's future will be left up to the Mayor-elect and future administrations.

ChiND

Nov 19, 2025 2:53 AM

That’s good news! Hopefully, the platform will start in 2026.

NYguy

Nov 20, 2025 2:03 AM

https://therealdeal.com/new-york/202...-hudson-yards/

Related inches closer to lucrative tax break at Hudson Yards
Developer seeking $2B from city to build platform over Western Rail Yards

Nov 19, 2025
Holden Walter-Warner

Quote:

The city’s Industrial Development Agency approved a resolution that amends the Uniform Tax Exemption Policy in the area with the Hudson Yards development site, Crain’s reported. The expansion of the relevant zone, notably, is not the same as Related receiving its desired tax break.

The 15-person board — partially stacked with mayoral appointees — almost unanimously approved the change to the Uniform Tax Exemption Policy. The exception was Comptroller Brad Lander, who supports the project, but not its use of city funds.

Quote:

Ultimately, Related is looking to build four mixed-use towers on the site that will deliver approximately 4,000 residential units, green space and a school.

The City Council approved the rezoning of the site back in June, a month after Related dropped its bid to put a casino on the site. The changes to the 2009 rezoning of the site also allowed for an office building and a hotel.

Related previously indicated that the housing units will primarily be rentals. The Adams administration announced the developer had committed to a minimum of 625 affordable apartments, up from 400. The pledge is likely driven by affordability requirements of the 485x property tax break.

ChiND

Nov 20, 2025 2:11 AM

The Greatest City in the World!!!

:cheers::cheers:

ChiND

Nov 28, 2025 4:32 PM

Will the office tower now be on the north side of the site?

https://a4.pbase.com/g13/06/102706/2....a6427279.JPEG

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