Stephen Ross, the chief executive of The Related Companies told a real estate forum at Columbia University Wednesday night that he expects to lease 3.5 million square feet of commercial space by the end of this year at the 26-acre Hudson Yards project on the West Side of midtown Manhattan, according to an article in today's edition of crains.com by Jeremy Smerd.
The article said that Mr. Ross "is actively negotiating with several large corporations that he hopes will become anchor tenants at the site. He declined to name the companies and their industries. "I'm very encouraged by the interest we're getting," Mr. Ross said.
Luxury accessories company Coach is among the companies that have been reported to be interested in moving to Hudson Yards, according to the article.
The 12 million-square-foot, $15 billion project could take 15 years to finish.
The first building is not expected to open until 2015, at the earliest, the article said.
Deputy Mayor for Economic Development Robert Steel, who also spoke at the forum, said Hudson Yards development would be the "last frontier" of class A office space in Manhattan after the redevelopment of lower Manhattan, the article continued, adding that "Mr. Steel said the development, which he noted would provide up to four times the amount of office space as Rockefeller Center, represented a major achievement for the Bloomberg administration, which had championed the redevelopment of the state-owned property since the mayor's first term."
"This will be a legacy project that puts things into place for our administration," Mr. Steel said.
The article said that Mr. Ross "is actively negotiating with several large corporations that he hopes will become anchor tenants at the site. He declined to name the companies and their industries. "I'm very encouraged by the interest we're getting," Mr. Ross said.
Luxury accessories company Coach is among the companies that have been reported to be interested in moving to Hudson Yards, according to the article.
The 12 million-square-foot, $15 billion project could take 15 years to finish.
The first building is not expected to open until 2015, at the earliest, the article said.
Deputy Mayor for Economic Development Robert Steel, who also spoke at the forum, said Hudson Yards development would be the "last frontier" of class A office space in Manhattan after the redevelopment of lower Manhattan, the article continued, adding that "Mr. Steel said the development, which he noted would provide up to four times the amount of office space as Rockefeller Center, represented a major achievement for the Bloomberg administration, which had championed the redevelopment of the state-owned property since the mayor's first term."
"This will be a legacy project that puts things into place for our administration," Mr. Steel said.
Architecture Critic
Carter Horsley
Since 1997, Carter B. Horsley has been the editorial director of CityRealty. He began his journalistic career at The New York Times in 1961 where he spent 26 years as a reporter specializing in real estate & architectural news. In 1987, he became the architecture critic and real estate editor of The New York Post.
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