MTA strikes deal with Related & Goldman Sachs

Proposed redevelopment of Hudson Yards. Image: dbox, courtesy of Related Companies.

$1.054 billion offer adds more affordable housing than Tishman’s plan. On March 26, 2008, the MTA selected Tishman Speyer to develop the John D. Caemmerer Rail Yards, also known as the Hudson Yards. 5 CityLand 46 (Apr. 15, 2008). But on May 13, 2008, Tishman withdrew its proposal, prompting the MTA to select a proposal submitted by a joint venture between the Related Companies … <Read More>

MTA selects Tishman’s billion dollar bid for Hudson Yards

Proposal would create 13 million sq.ft. of developable space. On March 26, 2008, the MTA Board selected Tishman Speyer’s proposal to develop the western and eastern portions of the John D. Caemmerer Rail Yard, also known as Hudson Yards. At $1.004 billion, Tishman outbid four competing real estate developers for the right to transform the 26-acre site despite proposing the smallest number of residential units and the least amount of open space.

Tishman’s proposal, designed … <Read More>