Hudson Yards Mega Project in NYC Officially Opens

Real Estate In-Depth | March 2019

The opening of Hudson Yards was definitely a cause for celebration.

NEW YORK—History was made on March 15 in Lower Manhattan when the Hudson Yards neighborhood officially opened to the public.

Beginning at noon, New Yorkers and visitors flocked to the Public Square and Gardens, a new five-acre public space; its centerpiece, an interactive landmark temporarily known as Vessel and The Shops & Restaurants, a 1-million-square-foot retail center featuring a collection of more than 100 diverse shops and culinary experiences.

Tenants have begun moving into 55 Hudson Yards and 30 Hudson Yards, two large-scale commercial towers, and residential occupancy is underway at 15 Hudson Yards. 10 Hudson Yards opened in May of 2016.

The opening of Hudson Yards, built atop the MTA’s John D. Caemmerer West Side Storage Yard, brings together for the first time the West Side and the neighboring districts of Chelsea and Hell’s Kitchen.

Hudson Yards developers Related Companies and Oxford Properties Group were joined at the opening by U.S. Senate Minority Leader Charles E. Schumer, U.S. Reps. Adriano Espaillat, Jerrold Nadler, Council Speaker Corey Johnson, First Deputy Mayor Dean Fuleihan and numerous elected officials; Gary LaBarbera, President of the Building and Construction Trades Council of Greater New York and many other dignitaries.

Additional highlights of the neighborhood still set to open over the upcoming months include: The Shed on April 5; the Equinox Hotel in June; and Edge, the highest outdoor observation deck in the Western Hemisphere, expected to open by early 2020.

Hudson Yards is home to industry leaders across nearly every business sector. 10 Hudson Yards is home to Guardian Life Insurance Co., L’Oréal USA, Tapestry Inc., The Boston Consulting Group, SAP, VaynerMedia, Intersection and Sidewalk Labs. 55 Hudson Yards is home to Boies, Schiller & Flexner; Engineers Gate; HealthCor Management; Milbank LLP; Point72 Asset Management; Silver Lake; Third Point LLC; MarketAxess; and Mount Sinai Health System. 30 Hudson Yards is home to Kohlberg, Kravis & Roberts (KKR), WarnerMedia, Related Companies, Oxford Properties Group, Wells Fargo Securities and DNB. 35 Hudson Yards will be home to Equinox’s headquarters and HSS. 50 Hudson Yards will be home to BlackRock’s world headquarters.

Native New Yorker and CNN anchor Anderson Cooper served as master of ceremonies. Live performances by singer and songwriter Andra Day, Dancers of The Ailey School and the National Chorale, The Professional Performing Arts High School Choir, marked the occasion.

Stephen M. Ross, chairman of Related Companies said, “Building Hudson Yards is the most humbling experience of my lifetime.” He later added, “This new neighborhood represents more than just a set of buildings, it shows what can be achieved when the public and private sectors join together to unleash passion and creativity. Our ambition for Hudson Yards was to create a great neighborhood, with experiences and opportunities for everyone. I am confident that we have achieved this with great public spaces, shopping and culinary expressions across all spectrums, cultural attractions, diverse residential opportunities and cutting-edge sustainability and resiliency.”