The Metropolitan Transportation Authority unanimously approved a tentative billion-dollar deal with the Related Companies on Thursday to build a 26-acre, $15 billion enclave of office towers, residential buildings and parks over the West Side railyards.
As a result, the transportation authority will negotiate a formal contract with Related, and its partner, Goldman Sachs, over the next five months and deposit an $11 million check from the developer for fees related to the massive project. The yards sit on both sides of 11th Avenue between 30th and 33rd Streets, near the city’s convention center.
The deal sets the stage for Mayor Michael R. Bloomberg’s long-running campaign to transform the once-industrial neighborhood into the city’s next major business district. Still, it could be years before the first building is erected over the windswept yards and the transportation authority begins to get a steady rent stream from the developer.
Read more @ the SOURCE: NYTimes.com – M.T.A. Approves a New Deal to Build at West Side Yards
Design Team includes:
Master Plan Architect
PWP Landscape Architecture