Tishman Wins Hudson Yards With $1.004 Billion Bid

The MTA finally selected developer Tishman Speyer to transform the West Side rail yards, between 10th and 12th Avenues between 30th and 33rd Streets, into a 26-acre commercial and residential hub. MTA Chairman H. Dale Hemmerdinger said Tishman's $1.004 billion bid is "more money than anyone expected...It is an extraordinary deal."

The MTA believes the deal will help with a $700 million budget deficit. The runner-up bid, from Durst-Vornado, (there were a total of five development teams interested) was for $899.2 million.

Tishman's proposed plan includes 8 million square feet of office space, 13 acres of public space, over 3,000 residential units, and 550,000 square feet of retail space, plus a main plaza "Forum" area with, per Crain's, "grand stair case reminiscent of Rome’s Spanish Steps." But first, the MTA and Tishman must work out a 99-year lease. Tishman must also spend $2 billion to construct a platform over the rail yards.

See Hudson Yards renderings from Tishman Speyer. And here's a flashback: Back in 2005, the Jets were going to offer $100 million to put a West Side Stadium over the rail yards, but then the MTA decided it wanted $300 million...only to realize in 2006 that the yards could be worth $1.5 billion.

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By Jen Chung in News on March 26, 2008 6:05 PM

Comments [rss]

sonyactivision

So that's how high you can pile shit. Maybe The Federation could meet here in the next Star Trek movie and deliberate whether or not to pull Spock off of life support. The architect of this hellish fantasy could even score a cameo as a blind Klingon with a broken Etch-A-Sketch.

west side Michael

And no Duane Reade or Dag in the hood?

maryba

And this coming the day after the MTA announced they wouldn't go forward with promised system improvements because of lost real estate revenue. HAHA, very funny MTA. Thanks for nothing.

matty

New York has long since stopped caring about architecture. It's form vs function and function always wins.

ironybubble

What's up with the bent cheese grater in the front left corner? But really though: can't we do any better than this in the 21st century? This has got all the architectural vision of a mid-level management office desk bought on clearance from Staples.

JenChungsBaby

Quite the contrast having the Empire State Building in the background of that picture. It's depression-era architectural splendor vs.......what?

ANGRYGOD11

Where's George Jetson?

Daughter Judy?

His boy Elroy?

Jane, his wife?

Think2wice

All that green doesn't cover up how severely homogeneous that architecture is.

ntwrkguy

so what will be done to 12th avenue to alleviate both the current traffic conditions and the future traffic conditions that will exist with the creation of this monstrosity?