Posted Jun 10, 2013, 11:10 PM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 52,145
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http://online.wsj.com/article/PR-CO-...googlenews_wsj
High Line at the Rail Yards feature to be named "Coach Passage"
June 10, 2013
Quote:
Coach, Inc. and Friends of the High Line today announced that the Coach Foundation has made a $5 million gift to the Campaign for the High Line, a fundraising effort to open the High Line at the Rail Yards (the final, undeveloped section of the High Line) and build an endowment to sustain the park's long-term maintenance and operations.
The Coach Foundation's gift to the High Line represents Coach's continued commitment to the neighborhood it has called home since the company's founding in 1941. Coach's new global headquarters will be located in Hudson Yards, a 26-acre, mixed-use site located between West 30th and West 34th Streets, and 10th and 12th Avenues. The Hudson Yards district encompasses the single largest piece of undeveloped property in Manhattan and will be the biggest development that has been realized since Rockefeller Center, with the High Line at the Rail Yards wrapping around the site. Coach, Inc. will be the anchor tenant in Hudson Yards' South Tower, occupying 15 stories and 740,000 square feet. The South Tower is the new, 47-story, 1.7 million square foot building currently under construction at West 30th Street and 10th Avenue; the first scheduled to be completed in Hudson Yards and projected to open in June, 2015.
The South Tower will straddle the High Line on West 30th Street, resulting in a new semi-enclosed passageway to be the largest covered area on the High Line when the park opens in 2014. The passageway will be named the "Coach Passage" in recognition of the Coach Foundation's essential contribution to the High Line and the neighborhood it has served for over 70 years.
"As a quintessential New York brand and major employer in the City, Coach has been part of the City's economy since its founding. We are proud to contribute to the historic development and vibrant future of New York's next great neighborhood, the same neighborhood we've called home for more than half a century," said Lew Frankfort, Chairman and Chief Executive Officer of Coach, Inc. "The Coach Foundation's gift is a concrete expression of Coach's ongoing commitment to the development of the High Line, and demonstrates our confidence in the future of the Hudson Yards community."
"With this gift, Coach demonstrates its incredible leadership and commitment to the development of the Hudson Yards neighborhood," said Robert Hammond, Co-Founder, Friends of the High Line. "We extend our deepest thanks and gratitude to Coach for its support. We are now closer to our goal of building an endowment and securing the much-needed support for the final section of the High Line. Once the entire freight rail structure is complete and open to the public, the High Line will provide an historic link, connecting our city's industrial past with the new development planned for the Hudson Yards, for future generations of New Yorkers to enjoy."
Frankfort added: "The High Line is an extraordinary example of energetic and pioneering spirit that has driven the city's ongoing economic revival. It is a great honor for Coach to support this type of innovation, one that brings neighborhoods and people together and reflects Coach's deeply rooted core values of community and collaboration."
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