• Master
Plan (2003)
• Economic Perspective
• Framework
(2001)
Economic
Perspective
In June 2002 the City engaged a consultant team
of Economics Research Associates (ERA) and Cushman & Wakefield
(C&W) to prepare market forecasts, project
the development potential of the area and timing
of development, and to assess the potential for
new development to support financing of the infrastructure
necessary for the Hudson Yards. The study examined
the major property categories- office, residential,
hotel and retail- to determine the development
potential of the Hudson Yards over a period of
20 years (2005-2025). ERA provided expertise
in large-scale development finance and in the
hotel and retail sectors, while C&W added
unsurpassed knowledge of the New York office
and residential markets. C&W's Analytics
group provided economic growth forecasts based
on data from Economy.com, the U.S Census, NYC
Office of Management and Budget, and NYC Dept.
of City Planning. The findings of ERA and C&W
were closely integrated into the Hudson Yards
Urban Design Master plan prepared concurrently
by City Planning and the Cooper Robertson consultant
team. A synopsis of the economic overview and
demand forecast is contained in the following
PDF:
 C&W
ERA Economic Overview and Demand Study Spring 2003 (560k)
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