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West Side Development Zones
In total, the neighborhoods from 14th Street to 61st Street, from 8th Avenue to the Hudson River account for a resident population of approximately 100,000 people. However, Manhattan’s West Side also includes three out of the top ten fastest-growing neighborhoods in New York City. Over the next decade, developers anticipate tens of millions of square feet of commercial, residential, and retail space being added to the area in a number of key development zones.
The area surrounding the former Penn Central rail yards has already become a booming residential neighborhood. However, several of the original plots of land over these rail yards remain undeveloped. From 57th to 61st Street, developers are planning to construct the Riverside Center, a mixed-use development of 2,500 apartments, 210,000 sq. ft. of retail space, a hotel, and a 3.4 acre park. The West Side Line, which carries Amtrak routes from Penn Station to points north of the city along Metro North’s Hudson Line, also runs under the Riverside South neighborhood. Metro North is currently assessing whether to provide connections between the Hudson Line and Penn Station along the West Side Line, and if so, have suggested constructing an intermediate station somewhere within the Riverside South neighborhood around 59th Street.
Over the past decade, the concentration of overall new development in Midtown West has been unparalleled elsewhere in the city. Midtown West office building sales rose from $1.8 billion in 2010 to $5.7 billion in 2011, and are predicted to continue to rise with the development of the Hudson Yards and surrounding developments.
Perhaps more than any other neighborhood of New York City, Hudson Yards has the grandest plans on paper. The extension of the 7-Line Subway to 34th Street and 11th Avenue is slated for completion in 2015. The first phase of Moynihan Station is scheduled for completion in 2016. But these projects are merely accompanying the big show: the Hudson Yards Redevelopment Project, which will include 24 million sq. ft. of office space, 1 million sq. ft. of retail space, and six acres of park space. The Related Companies have announced their own 12.7 million sq. ft. development, called Hudson Yards, which will include sixteen skyscrapers and a four acre park. The first tower, a 1,000 ft., 51-floor skyscraper connected to the High Line Park, has already signed on an anchor tenant, Coach, and broke ground in December 2012. Another developer, Brookfield Properties, has announced plans for its 5.4 million sq. ft. Manhattan West development on 9th Avenue and 33rd Street. The five acre Manhattan West development will feature two mixed-use skyscrapers, the taller of the two stretching over 1,200 feet in the air.
In the last several years, the area below the Hudson Yards, from 14th to 31st Street, has seen a significant rise in residential development, due in large part to the opening of the High Line. Investment in luxury residences, unique office spaces like the IAC Center, and Chelsea Piers demonstrate the area’s long-term commercial investments. To that end, in 2011, Google announced that it was purchasing a 2.9 million sq. ft., full-block office building at 15th Street and 9th Avenue for its New York City headquarters. Further south, the cosmopolitan Meatpacking District has seen the conversion of Manhattan’s old meatpacking houses into some of the most exclusive shops, bars, restaurants, and hotels the city has to offer.
Map of Selected West Side Developments