[NYguy]

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

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.

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.

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.