Stymied for a time by lackluster investment, planned redevelopment of Hudson Yards on Manhattan's West Side is picking up speed. Joining residential buildings and budget hotels, office towers will bring municipal revenues back up.
Hudson Yards' current palate of new residential and hotel structures hasn't been enough to fully justify an extensive redevelopment plan. "Critics have long complained that revenues from Hudson Yards development have fallen far short of what former Mayor Michael R. Bloomberg had once promised [...]"
However, "in the last 11 months alone, developers have paid the city $336 million in fees and development rights to allow for taller towers in the district."
Project architect Daniel Doctoroff, deputy mayor for economic development under former Mayor Bloomberg, remarked, "The planning and rezoning of the West Side for high-rise development, particularly office towers, was necessary for the city to continue to grow and prosper. Otherwise, Manhattan was running out of room for new development."
"Development on the West Side is generating so much money in fees and taxes, officials say, that for the first time in a decade, the city will not have to take money out of its budget to make payments on the $3 billion in bonds used to build parks and a subway line in the district."
FULL STORY: Redevelopment of Manhattan’s Far West Side Gains Momentum
More Skyscrapers Coming Soon to New York City's Skyline
After a decade of skyward expansion, even more skyscrapers are on the horizon in Manhattan.
Promised Data-Driven Infrastructure On Hold at Hudson Yards
When the Manhattan megadevelopment got its start, big data was a major part of Hudson Yards' marketing pitch. Now it's "probably the last thing we'll get to."
Massive Empire State Complex Gains Key Political Support
New York Governor Kathy Hochul is backing one of the largest real estate development projects in U.S. history—larger even than the nearby Hudson Yards project.
The End of Single-Family Zoning in Arlington County, Virginia
Arlington County is the latest jurisdiction in the country to effectively end single-family zoning.
‘Train Daddy’ Andy Byford to Oversee Amtrak’s High-Speed Rail Efforts
Byford, who formerly ran NYC Transit and Transport for London, could bring renewed vigor to the agency’s plans to expand regional rail in the United States.
Seattle Bus Lane Cameras Capture Over 100,000 Violations
An automated traffic enforcement pilot program caught drivers illegally using transit lanes more than 110,000 times in less than a year.
Immigration Grows, Population Drops in Many U.S. Counties
International immigration to the country’s most populous areas tripled even as major metropolitan areas continued to lose population.
$616 Million in Development Incentives Approved for District Detroit
The “Transformational Brownfield” incentives approved by the Detroit City Council for the $1.5 billion District Detroit still require approval by the state.
Affordable Housing Development Rejected for Lack of Third Staircase in Connecticut
The New Canaan Planning Commission rejected a development proposal, including 31 below-market-rate apartments, for lack of a third staircase, among other reasons, at a time when advocates are pushing to relax two-staircase requirements.
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