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TUTOR PERINI/HUDSON YARDS PRESS RELEASE

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Tutor Perini Corporation Announces Bid Results and New Contracts Totaling $2.9 Billion
SYLMAR, Calif.--(BUSINESS WIRE)--Jul. 9, 2012-- Tutor Perini Corporation (NYSE: TPC) a leading civil and building construction company, today announced that it recently has been awarded approximately $2 billion in new work and over $890 million in pending awards. Currently, Tutor Perini is actively working to negotiate and bring the new work under formal contract over the next few months.


Building Group

Tutor Perini Corporation's Building Group was recently awarded approximately $1.5 billion in new work and was listed as the low bidder on an additional $200 million in pending awards.

Tutor Perini Building Corp., formerly known as Perini Building Company, was awarded approximately $1.2 billion in new work, including:

Hudson Yards Tower C Project for Related Companies and Oxford Properties Group in New York City.Tutor Perini was retained as the contractor for the Tower C development project in Midtown Manhattan. The Tower C Project, part of the overall Hudson Yards Development Project, includes a 1.7 million square-foot office tower.

500 West 30th Street Project in New York City for Related Companies, which is developing the property with Abington Properties. The project is located in the West Chelsea neighborhood, an area that is undergoing significant revitalization. The project is adjacent to Hudson Yards and includes a 32-story tower with 386-residential rental units, retail space, and parking.

Graton Resort & Casino Project near Rohnert Park, CA for the Federated Indians of Graton Rancheria. Tutor Perini will work in conjunction with their developer, Station Casinos LLC. The project includes a 135,000 square-foot casino, an entertainment venue, high-end restaurants and the Market Place food court.

 
James A. Cummings, Inc. was awarded $245 million in new work, including: 

$178 million for Broward County Courthouse Project in Fort Lauderdale, FL. The new facility includes a new 20-story, 741,000 square-foot civil and family courthouse that includes 45 full-size courtrooms, 12 smaller courtrooms, 18 hearing rooms, staff and support space, pedestrian bridge and improvements to east wing of the existing courthouse facility.
 
$30 million for Florida Atlantic University Dormitory Project located on their Boca Raton campus.
 
$22 million for Terminal 4 Western Expansion Project at Fort Lauderdale-Hollywood International Airport in Florida.

Roy Anderson Corp. was awarded $35 million in new work, including the THAAD Instructional Facilities project. This new facility will be constructed at Fort Sill Army depot in Lawton, OK and will include classrooms, offices, and various training related areas.

Rudolph & Sletten, Inc. was awarded $60 million in new work, including Red Bluff Courthouse in Tehama County California. This new facility will house five courtrooms and related facilities.

Civil Group

Tutor Perini Corporation's Civil Group was recently awarded $51 million in new work and was listed as the low bidder on approximately $525 million in pending awards. The $51 million of new work was awarded to Tutor Perini's subsidiary Lunda Construction Company. The $525 million in pending awards includes notification by two different clients that Tutor Perini is the apparent low bidder at $239 million on the San Francisco MTA Chinatown Station public transportation project in downtown San Francisco and at $235 million on the Verrazano Bridge Upper Deck Replacement in New York City.

Specialty Contractors Group

Tutor Perini Corporation's Specialty Contractors Group was recently awarded over $315 million in new work and was listed as the low bidder on over $170 million in pending awards.

Fisk Electric Company was awarded approximately $151 million in new subcontract work for several projects including the SR 99 Bored Tunnel Project in Seattle, WA; and the Graton Rancheria Casino in Rohnert Park, CA.

Desert Mechanical, Inc. was awarded $117 million in new subcontract work for several projects including the SR 99 Bored Tunnel Project in Seattle, WA; LINQ Caesars project in Las Vegas, NV and Fort Irwin Hospital in Fort Irwin, CA.

Five Star Electric Corporation, WDF, Inc., and Nagelbush Mechanical, Inc. were awarded in excess of a combined $40 million in several new subcontracts in the New York City and/or South Florida areas. In addition, Superior Gunite was awarded $11 million in new subcontracts in the eastern and western United States.

Management Services Group

Tutor Perini Corporation's Management Services Group was recently competitively awarded $94 million in new work by The U.S. Army Corps of Engineers, Middle East District, as a task-order under an existing multiple award contract.

The overall project, which is funded by the Afghan Infrastructure Program, supports the Southeast Electrical Power System initiatives in southern Afghanistan. The specific project - Helmand substations and electrical transmission lines - is a critical infrastructure project for the region and will increase the provision of electrical power from the Kajaki Dam power house on the Helmand River through the Helmand Province. It consists of the design and construction of three electrical substations and a 110kV switchyard; the repair of existing 110kV electrical transmission lines; and construction of two 20kV transmission lines.

About Tutor Perini Corporation

Tutor Perini Corporation is a leading civil and building construction company offering diversified general contracting and design/build services to private clients and public agencies throughout the world. We have provided construction services since 1894 and have established a strong reputation within our markets by executing large complex projects on time and within budget while adhering to strict quality control measures.

Tutor Perini Corporation website: http://www.tutorperini.com 

 
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Related Companies will be breaking ground on the 26-acre Hudson Yards development within the next couple of weeks, and last month, for the very first time, all of the project's designers met to talk about their respective buildings. New York Magazine's archicritic Justin Davidson got to attend the meeting, and his latest article gives a look at details of Hudson Yards' $6 billion first phase. The "city within a city" will cap the yards with an $800 million concrete roof and top it with the country's largest and densest real-estate development. Imagine something like the Time Warner Center at Columbus Circle, only five times bigger.

Breaking it down building by building >>

http://ny.curbed.com/tags/hudson-yards
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Architectural Digest

HUDSON YARDS TO BREAK GROUND  November 14, 2012

After years of debate and delays, Hudson Yards—an ambitious plan to create a new mixed-use neighborhood from scratch over railroad tracks on Manhattan’s west side—is finally breaking ground. Excavations for the first office tower on the site, designed by Kohn Pedersen Fox Associates (KPF), which also created the master plan, will begin by the first week of December, according to a source at the Related Companies, its co-developer with Oxford Properties Group.


While much of Manhattan’s waterfront suffered serious flood damage from Hurricane Sandy, the site, which sprawls along the Hudson between Tenth and Twelfth Avenues, and West 30th and West 33rd Streets, was spared. The Long Island Rail Road (LIRR) stores its trains there, and its pumps worked when the water surged. Most of the development will be built atop a massive platform that will cover the tracks and allow trains to run even during construction. This should protect buildings from future storms, which have suddenly become a major worry. “Hudson Yards will have the benefit of learning from the mistakes of others” and incorporate the latest dewatering technologies, says Mitchell Moss, an urban planning professor at New York University.

The first tower, a 46-story, 1.7 million-square-foot building, with the luxury apparel company Coach as anchor tenant, will be at the far southeastern corner of the 26-acre Hudson Yards site. Construction of the $1 billion glass tower, which slopes westward before tapering to a point, is to be completed by 2015. Studios Architecture has designed the interiors for Coach; an entrance of the building will overhang a portion of the High Line. The entire development will include 14 acres of public open space and parks.

In addition to the Coach tower, KPF is designing a 1,300-foot high-rise. Connecting the two will be a five-story retail podium by Elkus Manfredi Architects, facing a landscaped plaza by Nelson Byrd Woltz. Also planned for the first phase: a 950-foot mixed-use tower with a hotel, condos, and shops, by SOM. Plus, Diller Scofidio + Renfro, along with the Rockwell Group, are designing a “culture shed,” a five-story moveable structure that abuts an 825-foot apartment tower that the team has also designed. The shed can roll out, like a trundle bed, to create a 55,000-square-foot performance and exhibition space.

A half-dozen structures, not yet designed, are planned for a second phase on the western side of the site. The total project, whose cost is $15 billion, isn’t expected to be completed for a decade. “This has to be the most exciting thing I’ve ever worked on,” says Bill Pedersen, 74, the lead design architect and a KPF founder.

The official start of the project caps a controversial history, from 2002 when New York Mayor Michael Bloomberg proposed building a sports stadium at the Hudson Yards site, to the city’s mega-density rezoning of the former industrial area in 2005. In 2008, the Metropolitan Transportation Authority, which controls the site, chose Related Companies’ plan over four competing proposals. The city has also extended a subway line to serve the new neighborhood; it’s set to open in 2014.

Keywords:
Hudson Yards;
 Kohn Pedersen Fox Associates;
 KPF;
 Diller Scofidio + Renfro;
 Skidmore Owings and Merrill;
 SOM;
 Studios Architecture;
 Rockwell Group;
 Nelson Byrd Woltz;
 Elkus Manfredi Architects;
 New York City;
 High Line;
 Coach Tower
 
This article has been updated at : 2012-11-15 11:19:29 EST

http://archrecord.construction.com/news/2012/11/121114-Hudson-Yards-To-Break-Ground.asp
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The Gothamist, December 4, 2012

After years and years of talk the enormous 26-acre, $15 billion, 15 building Hudson Yards project on the far west side—once meant to be the centerpiece for a new Jets stadium—broke ground today. Forget about the Atlantic Yards for a minute, because this mini-city is going to be big—and local politicians could not be more proud of themselves.

"The Hudson Yards project is a win-win: it’ll create new office and residential space and give the community a new school and open space," Manhattan Borough President Scott Stringer tweeted from the ground breaking. "Hudson Yards is happening! $15bil construction project in midst of weakened national economy - speaks volumes abt #NYC attractiveness," City Council Speaker Christine Quinn added. Even MTA CEO and the Post's favorite non-Mayoral candidate was happy today, reportedly trying to take some of the credit for the project (the site should make the MTA a cool billion).

And Mayor Bloomberg? Oh he could not have been happier that this project, which has been on the table for much of his time in office, is finally moving. He calls it "the future of New York." According to hizzoner the "site’s 26 acres will make it Manhattan’s largest undeveloped property now becoming a developed property. In fact, it is one of the largest private developments ever under taken in the country." No pressure, developer Related Companies!

So what to expect of this mini-city soon to rise between 10th and 12th Avenues and West 30th and 33th Streets? Well, the first phase alone is expected to include four mixed-use buildings with commercial, retail and residential space, as well as a cultural center and a luxury hotel. Coming on its heels will be a refurbished riverfront park, a 5-acre plaza "with a sculpture as large as Lady Liberty," a new public school and more. Along the way the city hopes it will bring 23,000 construction jobs to the area—which is nothing to scoff at. And let's not forget about the new 7 train station!

The first major tenant for the space will be the fashion company Coach, which has already purchased 750,000 of the 1.2 million square feet of the first office tower for an international headquarters. According to developer Related, more than 80% of that building already committed. Further the company says it "is close to signing several tenants to a another structure that will be higher than the Empire State Building."

Meanwhile, our favorite fact about the Hudson Yards project? It will, when done, have more office space than exists in all of Portland, Oregon. And maybe by the time it's finished there will actually be a demand for office space in Manhattan! Because right now, there are plenty of empty offices to go around.

Contact the author of this article or email tips@gothamist.com with further questions, comments or tips.

http://gothamist.com/2012/12/04/photos_the_hudson_yards_mini-city_b.php#photo-1


 By Garth Johnston in News on December 4, 2012 2:41 PM74
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Wongful Death - Pay attention ladies. The office girls with the CM's for all their rah, rah Safety is Job #1 & everyone's responsibility tag lines are just that much of the time. You always are told that Safety & Quality come first when reality dictates that it has always been schedule & cost, thus, the CM's Safety personnel miss the big picture and a man is dead due to sheer negligence on those there to protect your interests.

Of course, a meaningless $68k dollar fine by OSHA, as if that shall be a deterrant. MLB fined RGIII $10k for wearing a non-MLB approved Addidas T-Shirt & that fine is more than some contractos have received from OSHA in other wrongful deaths.

As usual, ENR'S less than stellar reporting failed to disclose who from the CM & GC was fired for failing to do their damn jobs. That needs to change.

http://enr.construction.com/business_management/safety_health/2013/0823-warning-signs-were-ignored-in-fatal-nyc-crawler-crane-accident.asp#.Uhevi0vPPB8.twitter

http://enr.construction.com/products/equipment/2013/0819-How-Much-Can-You-Bench.asp
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Key WTC manager heads for Hudson Yards

Philippe Visser is leaving his post at the Port Authority of New York and New Jersey, where he has been working to redevelop the World Trade Center site, to help manage a competing real estate development, Hudson Yards.
__________________________________________
By Daniel Geiger
September 17, 2013 1:53 p.m.

Philippe Visser, who served as a key figure in the Port Authority of New York and New Jersey's efforts to hammer out the financial terms and construction deadlines for the over $20 billion World Trade Center redevelopment for the past four and a half years, is leaving to partake in the construction of that site's arch-rival.

Mr. Visser is joining The Related Cos., several sources say, to help oversee its $18 billion Hudson Yards project. Mr. Visser will initially focus on a huge 2.4 million-square-foot tower on the north end of that 33-acre site, which is expected to be anchored by Time Warner. The discussions for that deal are not yet done, and Mr. Visser, who is known as a savvy deal negotiator, may play a role in how that transaction is arranged. He will also head up leasing discussions for the roughly 1.2 million square feet that will remain empty in the tower after the Time Warner lease.

Mr. Visser served as the director of World Trade Center redevelopment at the Port Authority since January 2011, and for two years before that he worked as a deputy under former director Richard Gladstone
 (Mr. Gladstone was promoted to oversee other projects in the Port Authority’s portfolio in 2011 and remains at the agency). The two worked together to hammer out the business terms and construction timelines for the site’s most challenging projects, including the development of the memorial, the transit hub and 1 World Trade Center. Mr. Visser was also involved in arranging a tense deal with Silverstein Properties in 2010 to end an impasse between the Port Authority and the developer on the east side of the WTC site where Silverstein has plans to build three office towers.

The talks allowed Silverstein to build 4 World Trade Center and 3 World Trade Center, which, with an anchor tenant rumored now to be in hand, Silverstein can construct with government financial backing per the arrangement struck by Mr. Visser. That deal benefited the Port Authority by allowing it to proceed on the construction of the site's transit hub.

Mr. Visser was also a lead executive for the Port Authority in its landmark deal to bring Condé Nast into 1.1 million square feet at 1 World Trade Center two years ago.

"Philippe has extensive experience with large-scale commercial real estate projects and a proven track-record of delivering complex developments," said Jay Cross, president of Related Hudson Yards, in a statement.

Mr. Visser says that with the WTC site's construction coming to a close, it was time for him to move on. "With 1 World Trade Center opening next year with anchor tenant Condé Nast, and the retail complex and transportation hub on track for 2015, the vision of the Port Authority is well on its way to reality," he said, in a statement. "I can now look forward to my next challenge."

Before joining the Port Authority, Mr. Visser already enjoyed a decorated real estate career. He worked at Tishman Speyer for five years and at Vornado and Forest City Ratner before that, giving him experience at three of the city's biggest and most successful real estate investment and development companies.
 
Correction: Philippe Visser served as director of the Port Authority of New York and New Jersey's World Trade Center redevelopment starting in January 2011. The timing of his leadership there was misstated in an earlier version of this article, published Sept. 17, 2013.
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N.Y.C. Mayor Rides Subway to Station He Helped Build

12/20/2013
 Associated Press/AP Online
Text size: AA



By DAVID B. CARUSO

NEW YORK - Now in his final days in office, New York City Mayor Michael Bloomberg celebrated his administration's work to redevelop Manhattan's far west side by riding a train Friday to an unfinished subway stop that will soon allow people to get to a forest of skyscrapers under construction near the Hudson River.
 
The station, at 34th Street and 11th Avenue, isn't scheduled to open to the public until next fall. But it is operational enough that Bloomberg was able to take a No. 7 train to the new platform from Times Square.
 
The extension cost $2.4 billion and adds just one extra stop to the No. 7 line, which originates in Queens, but Bloomberg said it will be well worth the hefty price tag.
 


"This is something we should all be proud of," the mayor said after arriving on the platform. He noted that the two giant machines that carved the new tunnel had been named after his daughters.
 
"It's going to be a great way for them to get to an exciting new part of Manhattan," he said.
 
Originally, Bloomberg had hoped that the subway would lead to a sports stadium that would host the 2012 summer Olympics. That arena was never built and the games were awarded to London, but the mayor's fallback vision for the site, dubbed Hudson Yards, is taking shape now.
 
About 14 million square feet of office buildings, apartment towers and hotels are planned or under construction in an area once dominated by a rail yard, blocks of industrial buildings and an isolated convention center. Close to 9,000 apartments are expected to be built in the next five years. Officials said 40,000 to 50,000 people may ultimately work in the new buildings.
 
The station will also sit near the northern terminus of the High Line, a former elevated rail line that is now a public park, and which has become a popular tourist destination.
 
"The subway makes it all happen," said Stephen Ross, chairman of Related Companies, the real estate firm at the center of the development project.
 
Construction on the No. 7 line extension began in 2007. Bloomberg said it was scheduled to be completed "basically on budget and on time."
 
A construction worker, Michael Simermeyer, of Burlington, N.J., died in a crane accident on the project last year.
 

The new station will save visitors to the area a half-mile walk from the next closest subway stop.
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New York’s Hudson Yards Starts Next Phase as Deck Begins By David M. Levitt Mar 19, 2014 12:16 PM CT
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Source: The Related Companies via Bloomberg
A rendering of the first phase of Hudson Yards on the West Side of Manhattan in New... Read More
 
Hudson Yards, the $20 billion Related Cos. development on Manhattan’s far west side, is taking a key step forward as work begins on a platform over the area’s rail depot designed to support three skyscrapers.

Related completed an agreement this week to finance the deck, including a $250 million loan from Deutsche Bank AG (DBK), according to a person with knowledge of the negotiations, who asked not to be named because the deal isn’t public. Building the 37,000-ton platform enables the start of almost 6 million square feet (560,000 square meters) of construction on the eastern half of the 26-acre (11-hectare) yards, said Stephen Ross, the New York-based developer’s chairman and founder.

“The whole eastern yards will be under construction this year,” Ross, who declined to comment on the specifics of the financing, said in a telephone interview. “We’ve been talking to investors. We have global partners, both domestically and internationally. The interest in this job has been unbelievable. We feel very, very confident.”

Hudson Yards, at a planned 17 million square feet, is the biggest private real estate development in U.S. history, according to Related. The company is seeking to transform a largely industrial section between 30th and 34th streets into a business center and residential enclave. The project requires building a platform over where 30 railroad tracks converge into four in an area west of 10th Avenue that feeds trains into and out of Pennsylvania Station.

Source: Related Companies via Bloomberg

Hudson Yards, at a planned 17 million square feet, is the biggest private real estate... Read More
 
Financing Deal

In addition to the Deutsche Bank loan, the $700 million deck is being financed with equity from Related and its partner in the project,
Toronto-based Oxford Properties Group; Time Warner Inc. (TWX), its lead occupant; plus funding from the U.S. government’s EB-5 program, according to the person with knowledge of the arrangement. That program allows immigrants to live in the country if they fund a job-creating investment.

Oksana Poltavets, a Deutsche Bank spokeswoman, declined to comment on the loan. Keith Cocozza, a spokesman for Time Warner, confirmed the company’s participation in the financing in an e-mail. A call made after business hours yesterday to Claire McIntyre, an Oxford spokeswoman, wasn’t returned.

The drilling of more than 250 caissons -- concrete-filled footings hammered into the bedrock below the yards -- starts this week. They will support a platform strong enough to hold up skyscrapers while leaving clearance for the trains to move as they have since the early 1980s, when the yard was built.
Photographer: Spencer Platt/Getty Images

Construction continues at the Hudson Yards Redevelopment Project, which is developing... Read More
 
Grand Central

The undertaking is comparable to the deck the New York Central Railroad built over its tracks north of the original Grand Central Terminal in the early 20th Century, said Robert A.M. Stern, dean of the Yale School of Architecture, and co-author of a series of reference books on New York’s development history.

“The principle that you can take this blighting yard, and make it more or less go away, is fantastic,” said Stern, who designed an apartment house for Related that’s nearing completion just south of the yards. “It seems every hundred years or so we are able to grow the city without disrupting anything and improve the environment.”

The project is the biggest bet on New York yet by Related, which was formed by Ross in 1972 and developed buildings including the Time Warner Center. Ross, 73, has a net worth of about $5.3 billion, according to the Bloomberg Billionaires Index, and is also the owner of the Miami Dolphins.

Offices, Retail

By the end of 2018, if all goes according to plan, the eastern yards site will boast 4.3 million square feet of offices in four towers; a 1 million-square-foot retail complex; a 1.1 million-square-foot building that will combine stores, apartments and a hotel; and a 960,000-square-foot residential property.
It will also include a public square built around a monumental sculpture designed by British artist Thomas Heatherwick, and a multipurpose venue with gallery and performance space designed to host events such as New York Fashion Week, called the “culture shed.”

Two more skyscrapers, totaling 3.6 million square feet of offices, are slated to go up on the block just north of the yards, which will be integrated into the development.

The challenge of building such a large-scale project years in development will be overseeing it through the economic cycles that may affect office, retail and residential demand before the buildings are completed, said Christopher Jones, vice president of research for the Regional Plan Association, a New York-based urban planning organization.

Fingers Crossed

“Any time you have a project of this size and this complexity, you really are keeping your fingers crossed that the business cycle is going to help you,” Jones said. “Right now it looks like the New York City economy is doing pretty well. There’s not a national recession on the horizon, that most people are predicting at the moment, but that can always change.”

The first eastern yards skyscraper, a 1.7 million-square-foot tower known as 10 Hudson Yards, is already more than 100 feet (30 meters) above the sidewalk, on its way to 895 feet. The 52-story building, currently about 85 percent leased, will house the headquarters of luxury-goods maker Coach Inc. (COH), as well as offices of L’Oreal USA and SAP AG.

That building had the advantage of being built on solid ground just south of the network of converging rails, in an area known as the “throat.” Those tracks connect by tunnel to Penn Station, the busiest U.S. commuter rail hub. The yard is a staging area for the Long Island Rail Road and is owned by New York’s Metropolitan Transportation Authority, which agreed to lease the site to Related and its partners for $1.05 billion in 2008.

Train Riders

The MTA is “enormously gratified by the progress they are making,” Aaron Donovan, a spokesman, said in an e-mail. He said it expects the platform project to have “minimal to no” impact on Long Island Railroad commuters and train schedules. Related has paid the railroad $10 million to prepare the Long Island yard near the former Shea Stadium site in Queens to store displaced trains, the company said.

The tallest of the 16 buildings planned for the entire 28-acre site is the 1,227-foot 30 Hudson Yards, almost half of which will be occupied by Time Warner for its headquarters. It will go almost directly over the throat of the yards.

Because of the importance of the spot to rail operations, and the need to avoid utility lines below, no footings can be drilled at the throat, so it will be spanned by an elaborate web of steel trusses, with beams as heavy as two tons per square foot. It will take two cranes to lift them, said James White, a Related senior vice president and a 30-year construction veteran who’s steering the building of the deck.

Transferring Weight

A system of 15 large-span trusses, which are reinforced horizontal beams, will be designed to transfer the weight of 30 Hudson Yards to caissons buried 60 to 80 feet into the schist on either side of the throat, White said.
 

He was recruited to Related from Brookfield Office Properties Inc., where he designed a deck that is now under construction over a rail trench just east of the yards for its 7 million-square-foot Manhattan West development. The two projects are in competition with one another for office and residential occupants.

The MTA requires that the rail yards remain operational during the entire two years it will take to complete the Hudson Yards deck. Limited track outages will be permitted, and the decking over of the throat area will be done entirely during 37 52-hour weekend outages of two of the four connecting tracks, said Ronald Wackrow, a Related executive vice president who is overseeing the engineering of the project.

52 Hours

“Our workweek for those 37 weekends will start late Friday night and go straight through to early Sunday morning,” or 52 straight hours “of just continuous shift work,” Wackrow said. After construction stops for the weekend, every piece of equipment must be removed so trains can operate Monday morning.

Amtrak is also in the process of building a tunnel across the yards to accommodate a possible future expansion of service across the Hudson River. It will be completed in October, Wackrow said, just in time for the platform to go over it.

Revenue generated by Hudson Yards is supposed to help defray the cost of the improvements made to the area funded by taxpayers. Due to delays in the project’s original time frame, the city has covered debt payments on the $3 billion of bonds used mainly to build an extension of the No. 7 subway line, which will serve the site and other developments beyond, said Doug Turetsky, spokesman for New York’s Independent Budget Office, a nonpartisan fiscal watchdog funded by the city.

Tax Breaks

Hudson Yards has received about $510 million of property tax benefits, according to the city Industrial Development Agency.

James Parrott, chief economist of Fiscal Policy Institute, a nonprofit research organization that generally opposes public subsidies for private development, said it is “a very positive step that things have gotten this far.”

The platform “brings closer the time when ‘pilot’ payments will be received by the city,” he said, referring to payments in lieu of taxes which the development will generate once it starts producing revenue.

“You’ve got major companies with deep pockets doing this,” said John McIlwain, a New York-based senior resident fellow at the Urban Land Institute in Washington. “There’s no question anything of this size is a gamble, but it’s a well-thought-out gamble.”


http://www.bloomberg.com/news/2014-03-19/new-york-s-hudson-yards-starts-next-phase-as-deck-begins.html

To contact the reporter on this story: David M. Levitt in New York at dlevitt@bloomberg.net

To contact the editors responsible for this story: Kara Wetzel at kwetzel@bloomberg.net

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10 Hudson Yards Gets Glassy


http://newyorkyimby.com/2014/09/permits-filed-337-west-36th-street-18-story-garment-district-hotel.html


2nd story:

Hotel Trades Council Medical Building Coming to Downtown Brooklyn, 620 Fulton Street
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