RELATED COMPANIES AND OXFORD PROPERTIES GROUP COMMENCE CONSTRUCTION ON HUDSON YARDS EASTERN PLATFORM

ENTIRE EASTERN RAIL YARDS, OVER SEVEN MILLION SQUARE FEET OF DEVELOPMENT, UNDERWAY THIS YEAR

10 HUDSON YARDS, HOME TO COACH INC., L’OREAL, SAP AND FAIRWAY MARKET SCHEDULED FOR COMPLETION IN 2015, ENTIRE EASTERN RAIL YARDS INCLUDING TIME WARNER INC. HEADQUARTERS COMPLETE IN 2018

New York, NY - March 19, 2014 Related Companies and Oxford Properties Group today announced that construction on the Hudson Yards Eastern Platform has commenced and that more than seven million square feet of development will be underway by year’s end. Construction on 10 Hudson Yards, home to Coach Inc., L’Oreal USA, SAP and Fairway Market, began in December 2012 and is scheduled for completion in 2015. The entire Eastern Rail Yards including 30 Hudson Yards, home to Time Warner Inc., will be complete in 2018.

Stephen M. Ross, Chairman of Related Companies, said, “In four short years, Manhattan’s West Side will be forever changed with the completion of more than seven million square feet of new development that will include new residences, a dynamic shopping and dining experience, a unique cultural space and state-of-the-art offices for Coach Inc., L’Oreal USA, SAP and Time Warner Inc. With the first tower well underway and the No. 7 Subway, Hudson Park & Boulevard and last segment of the High Line opening this year, we are thrilled to kick off construction on the platform and the remaining towers in the eastern rail yards and see our collective vision become a reality.”

Blake Hutcheson, CEO of Oxford Properties Group, said, “The scale and complexity of the Hudson Yards development results in many milestones to celebrate, and the commencement of construction of the Eastern Platform is one such notable achievement. This incredible structure will serve as the foundation for office, retail, residential and cultural aspects of the development, as well as public space. It represents the collaborative and extraordinary effort of many individuals and groups, and takes us one step closer towards realizing the vision of Hudson Yards.”

Jay Cross, President of Related Hudson Yards, said, “The start of construction on the Eastern Platform and the remaining towers is the result of over three years of diligent planning. Reaching this point could only be made possible with the collaborative partnerships among the LIRR, MTA, Amtrak and our talented team of architects and engineers, who deserve a great deal of credit for getting us here today.”

Jeffrey Rosen, MTA Director of Real Estate, said, “Commencement of the platform represents a very significant step for Related and Oxford as they pursue the full build-out that is envisioned by the lease we signed with them less than a year ago. We are enormously gratified by the progress they are making.”

Helena E. Williams, LIRR President, said, “Building a platform of this size above such a busy rail yard is a marvel of engineering and project management. We greatly appreciate the effort that has gone into ensuring that the construction will have minimal impact on LIRR train operations.”

The Eastern Rail Yards contains two soaring commercial towers, more than 100 shops and restaurants, luxury and affordable residences, a boutique hotel, a unique cultural space and over six acres of open space. The development of the entire Hudson Yards will create more than 23,000 construction jobs, and approximately 770 residential, commercial and security positions for members of 32BJ SEIU‎.

Gary LaBarbera, President of the Building and Construction Trades Council of Greater New York, said, “We are excited to mark a significant milestone in the development of Hudson Yards with the commencement of construction on the platform. Over the next decade, this landmark neighborhood development will create over 23,000 union construction jobs that come with the training to work safely and productively and the good wages, health insurance and retirement security that are essential to middle class opportunity. Our affiliated unions and members are proud to partner with Related and Oxford on a project that will forever change the west side of Manhattan and demonstrate what responsible development looks like.”

Héctor J. Figueroa, President of 32BJ Service Employees International Union, said, “The development of Hudson Yards will transform the west side of Manhattan and we welcome this latest milestone. Hudson Yards will create over 700 good-paying jobs for men and women working in the residential, commercial and security sectors, and these workers will in turn contribute to and build their local economies and communities. The collaboration with Related and Oxford on this development is an important example of how labor and industry can work together to ensure a broadly shared prosperity for our great city.”

Tutor Perini is serving as the General Contractor for the Hudson Yards. Thornton Tomasetti, the platform’s structure engineer, Langan, the geotechnical and environmental engineer, and Arup, the life safety systems engineer, are partnering with Related and Oxford on the massive platform design.

Ronald N. Tutor, Chairman and CEO of Tutor Perini, said, “Tutor Perini Corporation is honored to be the constructor of the Hudson Yards Platform that will support the largest private development that we are aware of in America. Also, as the builder of a significant portion of the buildings on the platform, we are truly proud to be associated with the cutting edge construction techniques being developed by Related and Oxford in their dramatic revitalization of the west side of New York City.”

Paul Katz, Managing Principal of KPF, the Architect of 10 Hudson Yards, 30 Hudson Yards and the platform, said, “The construction of the platform is the crucial step towards achieving the visionary plan for the West Side that will create 13 acres of new land and restore the urban fabric. As architects we are pleased that this platform will provide generous public spaces in addition to supporting the greatest mixed use project ever built.”

Tom Scarangello, Thornton Tomasetti Chairman and CEO, said, “The development of Hudson Yards is one of the most impactful projects ever undertaken and we are proud to be playing a role and lending our expertise in the creation of an entirely new neighborhood. Just as the 20th century spanning of the rail lines under Park Avenue called for engineering innovation, Thornton Tomasetti’s approach to this project also sets a new standard by utilizing a virtual, 3D model, containing steel members and connections that will be fed directly into the machines that fabricate the steel. Sharing and delivery of the model is the way of the future and enables tighter collaboration of all project team members while dramatically reducing risk.”

George Leventis, Managing Principal of Langan and geotechnical and environmental engineer on the platform, said, “We are thrilled to be part of the Related/Oxford design team for Hudson Yards, a project that will re-shape the skyline our city. As can be imagined, a development in this location of this size and scope brings with it immense engineering challenges, and we are thrilled to apply our expertise and knowledge of the subsurface conditions to help get Hudson Yards out of the ground.”

Hudson Yards is the largest private real estate development in the history of the United States and the largest development in New York City since Rockefeller Center. The 28-acre site will include more than 17 million square feet of commercial and residential space, more than 100 shops and restaurants, approximately 5,000 residences, a unique cultural space, 14 acres of public open space, a 750-seat public school and a 150-room luxury hotel—all offering unparalleled amenities for residents, employees and guests. It is anticipated that more than 24 million people will visit Hudson Yards every year.

Hudson Yards is also one of the most accessible sites in the region with connections to commuter rail, the subway system, the West Side Highway, the Lincoln Tunnel and ferries along the Hudson River. Grand Central Terminal will be only six minutes away by subway, and Penn Station, the nation’s busiest train station, a short walk away.

For this historic moment in New York City development history, Related and Oxford assembled a team of some of the world’s most celebrated architects and designers including: David Childs and Skidmore, Owings and Merrill; Diller Scofidio + Renfro; Elkus Manfredi Architects; Thomas Heatherwick of Heatherwick Studios; Kohn Pedersen Fox Associates, The Rockwell Group; and Thomas Woltz of Nelson Byrd Woltz Landscape Architects. Together, this team of visionaries has created a community that will transform the west side of Manhattan and forever alter the New York City Skyline. For more information on Hudson Yards, please visit hudsonyardsnewyork.com.



# # #



CONTACT:
Related Companies:
Joanna Rose, 212-801-3902, JRose@related.com

**NOTE: In addition to the graphics attached to this press release, a video animation further explaining the construction the Hudson Yards platform is available. High resolution photography of the construction on-site is also available. Please contact Jessica Scaperotti at Jessica.Scaperotti@Related.com and Nick Rosen-Wachs at Nick@Derris.com if you are interested in receiving the images, video or photography.

ABOUT THE HUDSON YARDS PLATFORM:
To complete the 28-acre Hudson Yards development, two “platforms” must be constructed to bridge over 30 active Long Island Rail Road (LIRR) train tracks, three subsurface rail tunnels utilized by Amtrak and New Jersey Transit, and a fourth passageway, the Gateway tunnel, currently under construction. The finished buildings will extend through the platform and rise above. The platforms will cover approximately three quarters of the Eastern and Western Rail Yards.

The platform and buildings above the Eastern Rail Yard will be supported by a total of 300 caissons, ranging from four to five feet in diameter and 20 to 80 feet in depth, which will be drilled deep into the bedrock in strategic locations between existing railroad tracks. The platform on the Eastern Rail Yard will utilize 25,000 tons of steel, 14,000 cubic yards of concrete and weigh more than 35,000 tons. Crews expect to have nearly all caissons in place in 2014. They will begin to place the structural steel columns, beams and trusses in Fall 2014. Over seven million square feet of development on Manhattan’s West Side will be underway at Hudson Yards this year

Throughout all of the project’s construction, the LIRR, Amtrak and New Jersey Transit trains will remain operational.

PRESS RELEASES
RELATED COMPANIES AND OXFORD PROPERTIES GROUP COMMENCE CONSTRUCTION ON HUDSON YARDS EASTERN PLATFORM
Related Companies 212.801.3902
3/19/2014 ENTIRE EASTERN RAIL YARDS, OVER SEVEN MILLION SQUARE FEET OF DEVELOPMENT, UNDERWAY THIS YEAR

10 HUDSON YARDS, HOME TO COACH INC., L’OREAL, SAP AND FAIRWAY MARKET SCHEDULED FOR COMPLETION IN 2015, ENTIRE EASTERN RAIL YARDS INCLUDING TIME WARNER INC. HEADQUARTERS COMPLETE IN 2018

New York, NY - March 19, 2014 Related Companies and Oxford Properties Group today announced that construction on the Hudson Yards Eastern Platform has commenced and that more than seven million square feet of development will be underway by year’s end. Construction on 10 Hudson Yards, home to Coach Inc., L’Oreal USA, SAP and Fairway Market, began in December 2012 and is scheduled for completion in 2015. The entire Eastern Rail Yards including 30 Hudson Yards, home to Time Warner Inc., will be complete in 2018.

Stephen M. Ross, Chairman of Related Companies, said, “In four short years, Manhattan’s West Side will be forever changed with the completion of more than seven million square feet of new development that will include new residences, a dynamic shopping and dining experience, a unique cultural space and state-of-the-art offices for Coach Inc., L’Oreal USA, SAP and Time Warner Inc. With the first tower well underway and the No. 7 Subway, Hudson Park & Boulevard and last segment of the High Line opening this year, we are thrilled to kick off construction on the platform and the remaining towers in the eastern rail yards and see our collective vision become a reality.”

Blake Hutcheson, CEO of Oxford Properties Group, said, “The scale and complexity of the Hudson Yards development results in many milestones to celebrate, and the commencement of construction of the Eastern Platform is one such notable achievement. This incredible structure will serve as the foundation for office, retail, residential and cultural aspects of the development, as well as public space. It represents the collaborative and extraordinary effort of many individuals and groups, and takes us one step closer towards realizing the vision of Hudson Yards.”

Jay Cross, President of Related Hudson Yards, said, “The start of construction on the Eastern Platform and the remaining towers is the result of over three years of diligent planning. Reaching this point could only be made possible with the collaborative partnerships among the LIRR, MTA, Amtrak and our talented team of architects and engineers, who deserve a great deal of credit for getting us here today.”

Jeffrey Rosen, MTA Director of Real Estate, said, “Commencement of the platform represents a very significant step for Related and Oxford as they pursue the full build-out that is envisioned by the lease we signed with them less than a year ago. We are enormously gratified by the progress they are making.”

Helena E. Williams, LIRR President, said, “Building a platform of this size above such a busy rail yard is a marvel of engineering and project management. We greatly appreciate the effort that has gone into ensuring that the construction will have minimal impact on LIRR train operations.”

The Eastern Rail Yards contains two soaring commercial towers, more than 100 shops and restaurants, luxury and affordable residences, a boutique hotel, a unique cultural space and over six acres of open space. The development of the entire Hudson Yards will create more than 23,000 construction jobs, and approximately 770 residential, commercial and security positions for members of 32BJ SEIU‎.

Gary LaBarbera, President of the Building and Construction Trades Council of Greater New York, said, “We are excited to mark a significant milestone in the development of Hudson Yards with the commencement of construction on the platform. Over the next decade, this landmark neighborhood development will create over 23,000 union construction jobs that come with the training to work safely and productively and the good wages, health insurance and retirement security that are essential to middle class opportunity. Our affiliated unions and members are proud to partner with Related and Oxford on a project that will forever change the west side of Manhattan and demonstrate what responsible development looks like.”

Héctor J. Figueroa, President of 32BJ Service Employees International Union, said, “The development of Hudson Yards will transform the west side of Manhattan and we welcome this latest milestone. Hudson Yards will create over 700 good-paying jobs for men and women working in the residential, commercial and security sectors, and these workers will in turn contribute to and build their local economies and communities. The collaboration with Related and Oxford on this development is an important example of how labor and industry can work together to ensure a broadly shared prosperity for our great city.”

Tutor Perini is serving as the General Contractor for the Hudson Yards. Thornton Tomasetti, the platform’s structure engineer, Langan, the geotechnical and environmental engineer, and Arup, the life safety systems engineer, are partnering with Related and Oxford on the massive platform design.

Ronald N. Tutor, Chairman and CEO of Tutor Perini, said, “Tutor Perini Corporation is honored to be the constructor of the Hudson Yards Platform that will support the largest private development that we are aware of in America. Also, as the builder of a significant portion of the buildings on the platform, we are truly proud to be associated with the cutting edge construction techniques being developed by Related and Oxford in their dramatic revitalization of the west side of New York City.”

Paul Katz, Managing Principal of KPF, the Architect of 10 Hudson Yards, 30 Hudson Yards and the platform, said, “The construction of the platform is the crucial step towards achieving the visionary plan for the West Side that will create 13 acres of new land and restore the urban fabric. As architects we are pleased that this platform will provide generous public spaces in addition to supporting the greatest mixed use project ever built.”

Tom Scarangello, Thornton Tomasetti Chairman and CEO, said, “The development of Hudson Yards is one of the most impactful projects ever undertaken and we are proud to be playing a role and lending our expertise in the creation of an entirely new neighborhood. Just as the 20th century spanning of the rail lines under Park Avenue called for engineering innovation, Thornton Tomasetti’s approach to this project also sets a new standard by utilizing a virtual, 3D model, containing steel members and connections that will be fed directly into the machines that fabricate the steel. Sharing and delivery of the model is the way of the future and enables tighter collaboration of all project team members while dramatically reducing risk.”

George Leventis, Managing Principal of Langan and geotechnical and environmental engineer on the platform, said, “We are thrilled to be part of the Related/Oxford design team for Hudson Yards, a project that will re-shape the skyline our city. As can be imagined, a development in this location of this size and scope brings with it immense engineering challenges, and we are thrilled to apply our expertise and knowledge of the subsurface conditions to help get Hudson Yards out of the ground.”

Hudson Yards is the largest private real estate development in the history of the United States and the largest development in New York City since Rockefeller Center. The 28-acre site will include more than 17 million square feet of commercial and residential space, more than 100 shops and restaurants, approximately 5,000 residences, a unique cultural space, 14 acres of public open space, a 750-seat public school and a 150-room luxury hotel—all offering unparalleled amenities for residents, employees and guests. It is anticipated that more than 24 million people will visit Hudson Yards every year.

Hudson Yards is also one of the most accessible sites in the region with connections to commuter rail, the subway system, the West Side Highway, the Lincoln Tunnel and ferries along the Hudson River. Grand Central Terminal will be only six minutes away by subway, and Penn Station, the nation’s busiest train station, a short walk away.

For this historic moment in New York City development history, Related and Oxford assembled a team of some of the world’s most celebrated architects and designers including: David Childs and Skidmore, Owings and Merrill; Diller Scofidio + Renfro; Elkus Manfredi Architects; Thomas Heatherwick of Heatherwick Studios; Kohn Pedersen Fox Associates, The Rockwell Group; and Thomas Woltz of Nelson Byrd Woltz Landscape Architects. Together, this team of visionaries has created a community that will transform the west side of Manhattan and forever alter the New York City Skyline. For more information on Hudson Yards, please visit hudsonyardsnewyork.com.



# # #



CONTACT:
Related Companies:
Joanna Rose, 212-801-3902, JRose@related.com

**NOTE: In addition to the graphics attached to this press release, a video animation further explaining the construction the Hudson Yards platform is available. High resolution photography of the construction on-site is also available. Please contact Jessica Scaperotti at Jessica.Scaperotti@Related.com and Nick Rosen-Wachs at Nick@Derris.com if you are interested in receiving the images, video or photography.

ABOUT THE HUDSON YARDS PLATFORM:
To complete the 28-acre Hudson Yards development, two “platforms” must be constructed to bridge over 30 active Long Island Rail Road (LIRR) train tracks, three subsurface rail tunnels utilized by Amtrak and New Jersey Transit, and a fourth passageway, the Gateway tunnel, currently under construction. The finished buildings will extend through the platform and rise above. The platforms will cover approximately three quarters of the Eastern and Western Rail Yards.

The platform and buildings above the Eastern Rail Yard will be supported by a total of 300 caissons, ranging from four to five feet in diameter and 20 to 80 feet in depth, which will be drilled deep into the bedrock in strategic locations between existing railroad tracks. The platform on the Eastern Rail Yard will utilize 25,000 tons of steel, 14,000 cubic yards of concrete and weigh more than 35,000 tons. Crews expect to have nearly all caissons in place in 2014. They will begin to place the structural steel columns, beams and trusses in Fall 2014. Over seven million square feet of development on Manhattan’s West Side will be underway at Hudson Yards this year

Throughout all of the project’s construction, the LIRR, Amtrak and New Jersey Transit trains will remain operational.