Back HomeDevelopment of a City Center: Hudson Yards
It is evident that Hudson Yards has seen recent developments: especially in the commercial residential sector. However, behind the reasoning of the subway expansion and gentrification lies the development for more retail space. In an interview with Bloomberg, Stephen Ross states that the Hudson Yards is looking to be the next city center (1) .
The recent transparency in New York City real estate stems from the Treasury’s interest in unveiling both commercial and residential buyers. Stephen Ross in a Bloomberg interview states they (the Treasury) “were trying to track money laundering” (1). Because of the high moderation, more regulated industries like real estate, law and finance are more inclined to relocate their company. Hudson Years offers those companies the technology and the modern, renovated advantages that this generation seeks out.
Hudson Yards is also developing retail space to match the commercial property. The development of restaurants (including one by the famous Thomas Keller), a Neiman Marcus, and an observation deck attract more than just the 9-5 commuters(2). Hudson Yards is becoming an attractive destination (and possibly residential) neighborhood.
Ross continues in the interview saying that “New York is becoming more of a technology city and it a place where people (millennials) want to be…. This will become the new ‘heart of New York’ “ (1). Since our culture is focused on the new and the now, the city is evolving to fit that need and fill that void through its commercial properties.
Photo Via Hudson Yards
The Hudson Yards development already has their own website, with the running theme “#BeInTheNext” (2). This encourages not only residents but also companies to be ahead of the trend, or on trend with the latest and greatest thing. It is playing into our generation’s mentality and contributing to our ever-evolving city.
Written by Kylie Keller
(1) Bloomberg
(2) Hudson Yards
