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New report details substantial economic impact of Hudson Yards development
Related Companies and Oxford Properties Group today released a report outlining the substantial economic impacts of the 28-acre Hudson Yards development on the New York City economy. Once fully operational, the development will contribute nearly $19 billion annually to New York City’s Gross…, New York City impact:, Once fully operational, the development will contribute nearly $19 billion annually to New York City’s Gross Domestic Product, accounting for 2.5 percent of the citywide GDP. Hudson Yards will also contribute $477.3 million in annual City tax revenues. During the estimated 13-year construction…, Capital contributions to the MTA:, No project in New York City’s history has contributed or will contribute as much to the MTA as Hudson Yards, with the agency receiving $1.784 billion in revenues during the development and construction of the project. In addition, upon completion, Hudson Yards will contribute $89.3 million annually…, Modernizing New York City's commercial office space and improving global competitiveness:, More than 64 percent of the City’s office space is currently in buildings that are at least 50 years old. The development of Hudson Yards is one of New York’s most important responses to the demand for new office space to keep New York competitive with other global markets. Hudson Yards will bring…, Regional impact:, While the economic impact of Hudson Yards may be concentrated in New York City, many other communities from across the country have benefitted and will benefit as well. The materials used to construct the Eastern Rail Yard, for example, have been sourced from nearly every state across the country.…, About the 28-acre Hudson Yards Development:, Related and Oxford’s Hudson Yards is the largest private real estate development in the nation’s history. The site, which spans from 30th Street to 34th Street between 10th and 11th Avenues and 30th Street to 33rd Street between 11th and 12th Avenues, will include 17 million square feet of…, About Related:, Related Companies is the most prominent privately owned real estate firm in the United States. Formed over 40 years ago, Related is a fully integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisitions, management, finance, marketing and sales…, About Oxford Properties Group:, Oxford Properties Group is a global platform for real estate investment, development and management, with approximately 2,000 employees and $37 billion of real estate assets that it manages for itself and on behalf of its co-owners and investment partners. Established in 1960, Oxford was acquired…
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Related and Oxford complete $2 billion capitalization of 35 Hudson Yards
Related Companies and Oxford Properties Group today announced the $2 billion full capitalization of 35 Hudson Yards, the 1.1-million-square-foot tower on the corner of 33rd Street and 11th Avenue set to open in 2019. The tower’s full capitalization includes $1.2 billion in debt financing led by the…, About Related:, Related Companies is the most prominent privately-owned real estate firm in the United States. Formed over 40 years ago, Related is a fully-integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisitions, management, finance, marketing and sales…, About Oxford Properties Group:, Oxford Properties Group is a global platform for real estate investment, development and management, with approximately 2,000 employees and over $40 billion of real assets that it manages for itself and on behalf of its co-owners and investment partners. Established in 1960, Oxford has regional…
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Related Companies launches sales at Fifteen Hudson Yards
Related Companies today announced that condominium sales at Fifteen Hudson Yards will begin this week, introducing the first opportunity to live at Hudson Yards—the new heart of New York on Manhattan’s West Side. Imagined by Diller Scofidio + Renfro (DS+R) in collaboration with Rockwell Group,…, About Related:, Related Companies is the most prominent privately-owned real estate firm in the United States. Formed over 40 years ago, Related is a fully-integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisitions, management, finance, marketing and sales…, About Diller Scofidio + Renfro:, Diller Scofidio + Renfro (DS+R) is an international design firm that works at the intersection of architecture, the visual arts and the performing arts. Founded in 1979, the New York City-based practice established its identity through independent, theoretical and self-generated projects before…, About Rockwell Group:, Founded by David Rockwell, FAIA, Rockwell Group is an interdisciplinary architecture and design firm that emphasizes innovation and thought leadership in every project. The firm uses theater, technology and finely-wrought craft to create extraordinary experiences and built environments across the…
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Plans for a grand new public space and engaging public landmark unveiled at Hudson Yards, Manhattan’s newest neighborhood
At a lively outdoor event held today on Manhattan’s West Side, Mayor Bill de Blasio, Chairman and Founder of Related Companies Stephen M. Ross, renowned designer and Founder of Heatherwick Studio Thomas Heatherwick and celebrated landscape architect Thomas Woltz unveiled plans for a public landmark…, About Heatherwick Studio:, British designer Thomas Heatherwick founded Heatherwick Studio in 1994 to bring craft, design, architecture and urban planning together in a single workspace. Today a team of 200, including architects, designers and makers, work from a combined studio and workshop in King’s Cross, London. At the…, About Nelson Byrd Woltz:, Thomas Woltz is the owner of Nelson Byrd Woltz Landscape Architects (NBW) with offices in New York City, Charlottesville, VA and San Francisco. During the past 20 years, Woltz and his staff have forged a body of work that integrates the beauty and function of built form and craftsmanship with an…, About Related:, Related Companies is the most prominent privately-owned real estate firm in the United States. Formed over 40 years ago, Related is a fully-integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisitions, management, finance, marketing and sales…, About Oxford Properties Group:, Oxford Properties Group is a global platform for real estate investment, development and management, with approximately 2,000 employees and over $40 billion of real assets that it manages for itself and on behalf of its co-owners and investment partners. Established in 1960, Oxford has regional…
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Hudson Yards announces latest additions to The Shops and Restaurants including a unique collection of fashion and beauty brands headed to Manhattan’s West Side
Hudson Yards, New York’s newest neighborhood, today announced that The Shops & Restaurants are nearly 60 percent leased and will bring more than a mile—or 20 blocks—of shopping and dining to Manhattan’s West Side. This unprecedented leasing effort has continued its strong momentum since Neiman…, About Hudson Yards:, With more than 8.5 million square feet of residential, commercial and retail space now under construction or operational, Hudson Yards is on track to open the entire first phase by 2019. Ten Hudson Yards—home to Coach Inc., L’Oréal USA, The Boston Consulting Group, German software engineering firm…
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Related Companies announces acquisition and preservation of more than 2,400 units of affordable housing across 16 properties in 2016
Related Companies, the nation’s preeminent privately-owned real estate developer, today announced the long-term preservation of an additional 2,417 units of affordable housing across 16 properties and six states in 2016. Continuing their strong, more than 40-year commitment to the creation,…, About Related:, Related Companies is the most prominent privately owned real estate firm in the United States. Formed over 40 years ago, Related is a fully integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisitions, management, finance, marketing and sales…
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Fifteen Hudson Yards’ rapid sales make marquee building one of fastest selling Manhattan condominium developments of 2016
Related Sales is pleased to announce that Fifteen Hudson Yards, the first residential offering at Hudson Yards, has sold 75 residences since launching sales in mid-September 2016, outpacing all other Manhattan residential new developments. Sales in the marquee building average nearly $5 million.…, About Related:, Related Companies is the most prominent privately-owned real estate firm in the United States. Founded more than 40 years ago, Related Companies is a fully-integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisitions, management, finance,…, About Oxford Properties Group:, Oxford Properties Group is a global platform for real estate investment, development and management, with approximately 2,000 employees and over $40 billion in real assets that it manages for itself and on behalf of its co-owners and investment partners. Established in 1960, Oxford has regional…
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Related Companies announces fifteen new ground-floor gallery spaces coming to West Chelsea
Related Companies announced today the creation of fifteen new gallery spaces on West 28th and West 27th Street in West Chelsea. The initiative speaks directly to Related’s efforts to preserve and enhance the cultural character of the West Chelsea neighborhood and further enrich the gallery corridor…, About Related Companies:, Related Companies is the most prominent privately-owned real estate firm in the United States. Formed over 40 years ago, Related is a fully-integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisitions, management, finance, marketing and sales…
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