As published on January 16, 2015.
As cities around the world grapple with increasing density, it sometimes takes ingenuity to build vital new neighbourhoods in limited and challenging spaces. There are very few places where density is more of an issue than New York City. That’s what makes the massive new Hudson Yards project on Manhattan’s far west side such a remarkable undertaking. The $20 billion project is not only the largest private real estate development in U.S. history, it’s also one of its most technically challenging.
Building on the site of one of the world’s busiest rail yards calls for some enormous feats of engineering. In fact, most of the Hudson Yards development will not actually be built on land but on a system of elevated steel-and-concrete platforms sitting overtop of the entire rail yard – like a floating neighbourhood on stilts.
The 28-acre megaproject will encompass more than 17 million square feet of commercial and residential space, and include five office towers, 5,000 residences, a 175-room luxury hotel, more than 100 shops, plus restaurants, a cultural centre, school and 14 acres of public space.
But more than the scale of the project, it’s the advanced engineering to make it possible that is so astonishing. Consider that the platforms that will form the rooftop of the active train yard below would need to support the height, weight and acreage of an entire “mini-city” above it!
The Hudson Yards project is at the epicentre of the dramatic transformation of the West Side district, one of Manhattan’s last undeveloped areas. Complemented by major public investments in mass transit, new parks and infrastructure, the area is undergoing incredible growth that is rapidly turning it into one of New York’s most coveted neighbourhoods – and exciting real estate development projects to watch.
Like Hudson Yards in New York City, we believe the Art Shoppe will be one of Toronto’s most exciting real estate development projects to watch in 2015, and we’re looking forward to the dramatic transformation of the Yonge and Eglinton area as we become part of this evolution.
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