NYC Mayor Reveals Luxury Plans for Hudson Yards Development
- Nov 02, 2011
November 2, 2011
By Barbra Murray, Contributing Editor
Hang on to your hats — well, your purses in this case — because Coach Inc. has become the catalyst for the first building at Hudson Yards, the 26-acre mixed-use project that will serve as the jumping-off point for the reinvention of the entire 300-acre Hudson Yards neighborhood on the West Side of Manhattan. The luxury handbag manufacturer will locate its global headquarters in 600,000 square feet at a 1.7 million-square-foot high-rise that Related Cos. and Oxford Properties Group, the private players in the public-private endeavor, plan to begin building in mid-2012.
Coach, which has called New York City home for more than a half-century, will set up shop on the lower third of the 51-story tower, which will sit at the intersection of 30th St. and 10th Ave. The architectural firm of Kohn Pedersen Fox Associates designed the structure to qualify for LEED Gold certification by the U.S. Green Building Council. But certification or no, the building’s location at Hudson Yards will render it inherently green given its future connection to the No. 7 subway line that is currently being extended to the site.
Transportation is a key element of the Hudson Yards project and the entire Hudson Yards/Railyards redevelopment area, the master plan for which entails approximately 6 million square feet of premier office space; 5,000 residences in nine buildings; a 1 million-square-foot retail complex; a school; a cultural facility; and 14 acres of public open space. With the No. 7 line in place, residents, workers and visitors to the redeveloped 60-block enclave will have easy access to all major rail connections throughout Manhattan. In October, JPMorgan Chase announced it had provided $1 billion in financing for the subway line extension.
The expanded No.7 service will commence in 2013, well in advance of the anticipated 2015 completion of Hudson Yards’ first building and the move-in of its newly announced anchor tenant, Coach. The behemoth structure will alter the Big Apple’s skyline and take on the title of the largest building in the city when it makes its debut.
As Commercial Property Executive previously reported, prep work on the Hudson Yards project began in December of last year.