The Proposal to Build Hudson Yards West on top
of the Undeveloped Western Rail Yards is an Unprecedented
$12B Total Project Investment in NYC
that will Create 35,000 Union Construction Jobs, 5,000 Permanent
Union Careers in the Resort and 1,500 units of New Housing
Hudson Green, a
5.6 Acre Public Park, will be the Centerpiece of Hudson Yards
West
Renderings and Animations Available to
Download Are Linked Here
NEW
YORK, Aug. 28, 2024 /PRNewswire/ -- Related
Companies/Oxford Properties Group and Wynn Resorts today revealed
new project details for the next phase of Hudson Yards, including
new renderings and animations as well as additional testimonials of
support. The $12 Billion total
project proposal to build Hudson Yards West on top of the
undeveloped western rail yards, is a once-in-a-generation
commitment that, if approved by City and State officials, would
provide significant quality-of-life improvements for the
neighborhood and enormous economic opportunity for the entire city,
including:
- Wynn New York city, a world-class resort that creates 5,000
permanent union careers
- 35,000 union construction jobs during development
- A 5.6-acre public park, comparable in size to Bryant Park
- 1,500 new housing units, including 324 affordable
apartments
- A new public K-8 school
- A neighborhood-focused traffic, safety, and sanitation
plan
- Support for local community organizations
The centerpiece of the development is Hudson Green, a new a 5.6-acre public green park
designed by the award-winning teams of Hollander Design and Sasaki,
as part of a master plan designed by Skidmore, Owings & Merrill (SOM). With stunning
views of the Hudson River, this new public park creates an oasis of
open lawns, gardens, playscapes, and groves that connect the West
Side. Comparable in size to Bryant Park, Hudson Green will feature a dog run, over 300
trees, 500 shrubs, flower beds and various native plantings
throughout the active landscape. The architecture and design of the
resort is being led by Wynn Design and Develop, Wynn Resorts
in-house team of designers, architects and creatives.
The new architectural renderings and video animation allow the
public to envision how the development will fit into the context of
the overall neighborhood, including Hudson Yards and the Javits
Center, as well as how the new park will connect to both the High
Line and Hudson River Park. As
longtime supporters of both parks, Related Companies made several
amendments to the proposal to ensure seamless public access points
and create better sightlines and interfaces.
"The next phase of Hudson Yards is a $12B total project investment in New York's future that, if approved by City
and State officials, will create tens of thousands of jobs, 1,500
units of housing including hundreds of new affordable apartments,
and billions in much-needed revenue for the City and State," said
Jeff T. Blau, CEO of
Related Companies. "At the center of it all is Hudson Green, a 5.6-acre rolling green park with
incredible river vistas, hundreds of trees for hot summer days,
gardens, a playground and a dog park. We truly believe it will be
an oasis that becomes the new calling card of the neighborhood. In
the months ahead, we look forward to sharing more details of the
extensive, long-term economic and community benefits our vision for
Hudson Yards and Wynn New York City will bring to New York."
Wynn New York City will anchor the development, completing a
decades-long revitalization of Manhattan's West Side. This new vision for
Hudson Yards West adheres to the approved uses in the 2009 zoning,
but has also evolved to reflect the city's current landscape and
economic infrastructure needs. Wynn New York City is the economic
engine supporting the development and will create careers for
thousands of New Yorkers while offering significant benefits to all
sectors of the community.
"It's easy for leaders to talk about wanting to create jobs and
invest in the economy and infrastructure, but our proposal to
develop Hudson Yards West would actually do it, which is why it
continues to garner important support from unions, trade
organizations and small businesses," said Bruce A. Beal Jr., President of Related
Companies. "Finishing the undeveloped yards will not only
create 35,000 unionized construction jobs during development, but
5,000 permanent union careers in the resort, which is the economic
engine that supports all of these wonderful community benefits,
including the affordable housing, public park and transportation
improvements."
Following dozens of meetings with locals over the last two
years, Related Companies/Oxford Properties Group and Wynn Resorts
also unveiled new details around the community benefits of the
proposal, including the Wynn Neighborhood Improvement Fund. The
fund will provide resources for key areas as identified by the
local community including public safety and security, sanitation to
keep sidewalks and streets clean, beautification and plantings for
public open space, and support local artists, whose work will be
displayed both throughout Hudson
Green and within the resort. The full scope of the
substantial community benefits program to be revealed by next
summer.
For more information, please visit WynnNewYorkCity.com. New
visual assets, including an animation of a walk along the High Line
with views of the proposed development, are available to download
here.
About Hudson Yards
Hudson Yards is the newest
neighborhood on Manhattan's West
Side developed by Related Companies and Oxford Properties Group. A
template for the future of cities, Hudson Yards is Manhattan's first LEED Gold Certified
Neighborhood; home to leading retail brands in every category from
luxury to fast fashion, and first-ever stores from popular online
retailers; restaurants and food experiences by world-renowned chefs
and restaurateurs; dynamic cultural institutions and attractions
including Edge, Vessel and The Shed; modern residences offering
unparalleled amenities; more than five acres of public plazas,
gardens, and groves; the world's first Equinox Hotel;
state-of-the-art commercial office space for industry leaders
including KKR, Tapestry, BlackRock and more; and eventually a new
750-seat public school. For more information on Hudson Yards,
please visit HudsonYardsNewYork.com.
About Related Companies
Related Companies is a global
real estate and lifestyle company defined by innovation and the
most prominent privately-owned real estate firm in the United States. Formed 50 years ago,
Related is one of the largest private owners and preservationists
of affordable housing in the U.S. and a fully-integrated, highly
diversified industry leader with experience in virtually every
aspect of development, acquisition, management, finance, marketing,
and sales. Headquartered in New York
City, Related has offices and major developments in
Boston, Chicago, Los
Angeles, San Francisco,
Washington, D.C., Abu Dhabi and London, and boasts a team of approximately
4,000 professionals. With over $60
billion in assets owned or under development including the
28-acre Hudson Yards neighborhood on Manhattan's West Side, The Grand LA and
Related Santa Clara in California
and The 78 in Chicago. Related was
named to Fast Company Magazine's list of the 50 Most Innovative
Companies in the World. For more information about Related, please
visit https://www.related.com/.
About Oxford Properties Group
Oxford Properties Group
("Oxford") is a leading global real estate investor, developer and
manager. Established in 1960, Oxford and its portfolio companies
manage approximately C$84 billion of
assets across four continents. Oxford's owned portfolio encompasses
office, logistics, retail, multifamily residential, life sciences,
hotels, alternatives and credit in global gateway cities and
high-growth hubs. A thematic investor with a committed source of
capital, Oxford invests in properties, portfolios, development
sites, debt, securities and real estate businesses across the
risk-reward spectrum. Together with its portfolio companies, Oxford
is one of the world's most active developers with over 70 projects
currently underway globally across all major asset classes. Oxford
is owned by OMERS, the Canadian defined benefit pension plan for
Ontario's municipal employees.
About Wynn Resorts
Wynn Resorts, Limited is traded on
the Nasdaq Global Select Market under the ticker symbol WYNN and is
part of the S&P 500 Index. Wynn Resorts owns and operates Wynn
Las Vegas, Encore Boston Harbor, Wynn Macau, and Wynn Palace,
Cotai. The company is currently developing the first international
destination gaming resort in the Middle
East, in Ras Al-Khaimah in
the United Arab Emirates.
Wynn and Encore Las Vegas feature two luxury hotel towers with a
total of 4,748 spacious hotel rooms, suites and villas,
approximately 194,000 square feet of casino space, 21 dining experiences featuring signature
chefs and 11 bars, two award-winning spas, approximately 513,000
rentable square feet of meeting and convention space, approximately
177,000 square feet of retail space as well as two theaters, two
nightclubs, a beach club and recreation and leisure facilities
including Wynn Golf Club, an 18-hole, 128-acre championship golf
course.
Encore Boston Harbor is a luxury resort destination featuring a
210,000 square foot casino, 671
hotel rooms, an ultra-premium spa, specialty retail, 14 dining and
lounge venues, and approximately 71,000 square feet of
state-of-the-art ballroom and meeting spaces. Situated on the
waterfront along the Mystic River in Everett, Massachusetts, the resort has created
a six-acre public park and Harborwalk along the shoreline. It is
the largest private, single-phase development in the history of the
Commonwealth of Massachusetts.
Wynn Macau is a luxury hotel and casino resort located in the Macau Special Administrative
Region of the People's Republic of
China with two luxury hotel towers with a total of 1,010
spacious rooms and suites, approximately 294,000 square feet of
casino space, 14 food and beverage
outlets, approximately 31,000 square feet of meeting and convention
space, approximately 64,300 square feet of retail space, and
recreation and leisure facilities including two opulent spas, a
salon and a rotunda show.
Wynn Palace is a luxury integrated resort in Macau. Designed as a floral-themed
destination, it boasts 1,706 exquisite rooms, suites and villas,
approximately 468,000 square feet of casino space, 14 food and beverage outlets, approximately
37,000 square feet of meeting and convention space, approximately
107,000 square feet of designer retail, SkyCabs that traverse an
eight-acre Performance Lake, an extensive collection of rare art, a
lush spa, salon and recreation and leisure facilities.
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SOURCE Related Companies