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Projects & Proposals > Manhattan > Hudson Yards Printer Friendly Version
Hudson Yards
Prior Planning Studies
Overview | Area | Original Proposal as Adopted | EIS | Follow-Up Actions/Bonus Contributions
Financing | Prior Planning Studies
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:

PDF Doument C&W ERA Economic Overview and Demand Study Spring 2003 (560k)


Overview | Area | Original Proposal as Adopted | EIS | Follow-Up Actions | Financing | Prior Planning Studies




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