A few notes about Hudson Yards as someone who lived a block away from it. It is widely inaccessible by transit. The closest train is either the 7 (which you would have to take most lines up to 42nd to get to the 7) or Penn station and walk 3 blocks over. The construction in CONSTANT the sideways are blocked off and it’s dangerous to be walking in the middle of the construction zones everywhere, also the noise never stops. It’s beautiful but also a full on nightmare and the malls biggest tenant Neiman Marcus closed not even two years after it opened up, leaving the large anchor space empty. Hudson yards was designed for an elite clientele at the peak of a pandemic and now a recession so it only makes sense that the project is bleeding money
Perfect example of why MTA should be returned to the city or major expansions of infrastructure beyond downstate should be built so upstate New Yorkers like me feel like our taxes to the mta benefit us and so more revenue overall can be made. In my “city” upstate we don’t have a bus system after 6-7pm depending on the day/ season. That’s ludicrous yet we subsidize the MTA. You’d think the state of new York would be interested in expanding the mta to include more people and connect more cities than 2 Amtrak trains a day that are of course empty how can you rely on a system with 0 frequency or infrastructure. The city of new York built the new 7 station and they clearly know better than greedy politicians in Albany where their system is lacking.
My thing is why don’t they just lower the prices?🤷🏽♂️ yea it’ll take longer to recoup but at least you’ll have tenants. Rather have empty useless beautiful buildings
@@davidalford5889 and yet, things like Millionaires' Row in NYC exist - beautiful, expensive, empty buildings. There is no money in regular buildings for regular people. There is LOTS and LOTS of money in cheaply built, shiny buildings sold for millions and millions to people who have 3 or 4 residences already. The interior designer who convinced the mega-rich that unfinished plywood is a high-end luxury room finish is some kind of sympathetic supervillain.
As a 72 year old New Yorker, I can say that the whole development is cold, boring, and too far from the river. All the shops are luxury chain stores that overcharge to people who can afford them. A major disappointment.
I can't help but think that it's just a scheme. avoid taxes or launder money. also: this kind of minimalist approach is not what humans feel connected to. that bloody "vessel" is like an alien beehive. creepy vibes
Hudson Yards is a gated community that doesn't serve the community, it's primarily a tourist attraction. HY received a $350 Million tax break from the city in exchange for promised affordable housing. It has failed. Their cornerstone, Neiman Marcus, filed for bankruptcy last year. Equinox hotel is up for sale. Three people took their lives by jumping off the vessel. The existing community repeatedly requested the vessel be retro-fitted with an enclosure or taken done. Now Related, parent company of HY, wants to put a casino in HY. The surrounding community has the highest street homeless population in the city and has requested instead affordable housing be built. City officials allowed a working class neighborhood to be turned into a tourist attraction, forcing many residents out. HY is the worst financial failure in the history of the city, and was even before the pandemic. -Hell's KItchen Block Association
You summed it up perfectly. I watched the entire thing rise from my apartment window on 42nd St. Totally not surprised when the second phase uh..'stalled'. I've been there twice - not even worth the walk
We accidentally ended up there after taking the wrong train and had no idea where we were when we walked up. It was surprising both in how lavish the area is and how few people were there.
It was hot in the beginning but I’m sure as more and more tourists had to have loans approved just to go there, the word began to spread. Crooked joe bidens inflation isn’t helping the situation.
I loathe both the Vessel, just from an architectural standpoint, not even taking the fact that it's a irrelevance of stairs to nowhere. But compared to the Oculus downtown it's gorgeous.
They have no intention of building the affordable housing be real. They will continue to say they will build something so they can keep getting tax handouts, and once they are forced to build something it will just be sub-luxury condos that go for 3,000 for a 1br, but they will say it's affordable for the "neighborhood" because the normal prices are astronomical in Hudson Yards. Or the developer will just sell out after squeezing as much money from the project as possible and pass the buck to the city or another developer that may or may not build the affordable housing either. My 2 cents: the affordable housing will probably never be built as is often the case in these projects. They could have built mixed income condos/apartments from the start like they do in other parts of the city, but they couldn't sell to Saudi Royalty and billionaires who don't even want to be withing sniffing distance of the lower classes if they did that.
@@ThisJustin_87 It's most definitely a scam. If the minimum wage is $15 per hour, and a landlord requires your household income to be 3x the rent, an "affordable" unit for a full-time minimum wage worker is about $600 per month. Hudson Yards will never have a single housing unit anywhere near $600. There isn't a single private developer in America working on an urban housing project that creates $600 units. Don't believe your local government when they say they're working with private developers on "affordable housing."
Forgot to mention that phase 2 was also dependent on financing for the Gateway Tunnel project which will run under Hudson Yards to Penn Station. That financing was also delayed.
New York manages to constantly disappoint it's citizens by doing every civil engineering project with the maximum amount of delays, controversy, budget overruns and political bickering possible. They always excuse themselves for this by saying "Oh, but it's so complicated doing this in Manhattan" despite the fact that there are many cities around the world with equal or greater challenging urban contexts who do not take 40 years to build just part of one new metro line and who have much more aesthetically pleasing results that NYC - which still manages to make passengers feel like they are scurrying through the city sewers like herds of overgrown rats. At the present, China in particular is putting New York and the American way of (not) building infrastructure and adequate public transport systems to shame. Sure, they have the advantage of cheap labor and the authoritarian ability to just force a project through. So we can console ourselves with that ... or we could get our act together and show that democracies can actually serve their citizens just as well.
I live a few blocks from Hudson Yards. Driving from NJ the new buildings block out views of the Empire State Building. It's like Ft. Lauderdale or Kansas City was plopped down in Midtown Manhattan. There's a ripple effect of Covid, so I understand the developers' reluctance to build the affordable housing, but they must do so. Billionaires must stop breaking rules and serving themselves before serving the greater good.
I worked on those buildings… I’m a local 3 IBEW electrician and I have to say I’m proud to have worked on this project.. can’t wait to see if our shop will get the rest of the work and I go back on that job site 👍♥️
@@RichLclipsoh you’ll get all the overtime you could ever want. Right now it’s like building on steroids. And (not to your fault) it’s an effort to kick us all out and bring in the rich. What does the future hold for the construction industry? What I mean is, when all the old buildings are torn down and the shity is just a sheet of glass instead of beautiful hand carved buildings, what will happen to all the construction jobs?
This is also a neighborhood people don't naturally pass by. I lived nearby and Hudson Yards was the nearest place for me to sit down and get a coffee, have a stroll through Zara and have a break from the outside noise, but there really isn't much else to the place? Can't really get there comfortably with public transport, it feels like it's just a neighborhood in a hidden corner of Manhattan and the construction on 34th right makes it such an unwelcoming place.
Exactly, it's not in a very convenient location, so it's "out of the way" for a lot of people unless they go here for work or because they live here (if they can afford the sky high prices)
The concept is so cool, building on top of an active rail yard. I just don't understand how the costs of building and renting here can ever be justified though. Rent in NYC is high despite empty units. Employers are diversifying by opening up offices in smaller cities across the country. And once smaller cities have become large. CIties like Miami, Fort Lauderdale, Houstan, and Dallas have become massive. It just doesn't make sense to me.
because its about prestige, the prestige of owning a downtown penthouse in New York city is one of the best things you can do to fully cement your billionaire or multi-millionaire status, even if that drives the average person away.
New Yorker here. I never heard a single person in Manhattan say I want to go to Hudson Yards. First of all, did you know that in order to get to the damn place you can only access it with the 7 train? I mean, it’s the 7 train, the one you board at the LOWEST platform in the city. 5 stairs for that? No, thank you! We walk enough in this city.
Your point about office space is something that developers need to take note of. The pandemic taught us that there are much more efficient ways of working and that offices aren't always necessary. I live in a very populated/popular area and office spaces have been nearly half vacant for years now. Office parks only take up land and their parking lots go empty. I hope one day developers realize that there is still good money in making affordable housing instead of building empty luxury spaces. There are millions of people out there that pay on time and are great tenants!
Worse thing is they're STILL building more office space in & around Hudson Yards. Manhattan west is a similar multi-building development with even MORE office space going in
There's only so many luxury apartments that can be built before you run out of ultra wealthy people, and these kind of places seem to be being built all over the world. Sooner or later you've got to cater for the average person if you actually want to sell places.
Tall vertical structures do not a neighbourhood make. Cold, impersonal, and no soul or vibrancy. Not even the Vessel could encourage the will to enjoy life.
Interesting fact. This project was green lot when I was in college and in architecture school which emphasized urban development so we focused on this projects intial proposal. The developer did not want affordable housings in it, it was pushed onto them by the city who in turn had it pushed onto them by the city residents. In fact, in an early draft, they were supposed to build the entire platform upfront, but changed the plan when the affordable housing portion was added. Even then people realized they were going to try to bail on that aspect of development.
Thank you for sharing this RE development there in the Big Apple. I will also ask family that lives in NY what they think about the new Hudson Yards as well.
The government could literally just force developers to build affordable housing in a timely fashion in order to receive any subsidy on the entire project, but they won’t do that for reasons. 🙃 The subsidizing of these projects means all locals regardless of income are essentially paying (tax) money to fund wealthy developers who ultimately reward locals with high rents.
the government will never do that because they will lose there kick back , you know. ( 20% FOR THE BIG CLOWN) in Washing-scam D.C. . we all know how that works don't we. lol lol lol
People in other parts of the world (and in New York in earlier eras) build tall buildings much quicker and cheaper than NYC and thus the cost of living in said buildings are a lot more affordable. Because local regulations are the primary reason that New York construction is so expensive, the locals are in fact raising their own rents via their voting decisions, while passing the blame to "greedy developers".
@@Letsplay222 I can assure you locals voting for public officials or ordinances does not have the same impact as developers lobbying and/or bribing politicians in any remote capacity, like… be serious. We’re not blaming voters for lack of affordable inventory, which is a national issue btw not just a NYC issue.
@@darkinetix Well it is a national issue in that immigration is completely unrestrained such that their always more people looking for less housing, that I agree with. Something has to be done with that. That doesn't mean that a voter can't make a difference locally. It's pretty ludicrous to state that the land developers are the reason that housing is so expensive. If anything it is the people STOPPING developers from doing their job with endless court filings and environmental impact reports, both of which can be significantly reduced through proper regulatory reform.
Another reason high income and low income housing should be built fully integrated. Tuck some small apartments in in between the luxury apartments. Let them share amenities like pools.
yea but you think the elites want to be in the same living space as us filthy commoners who can barely afford to pay the rent. you think they want to interact with more people that have 150 million dollar yachts or you think they want to hear the poor whine about how they are behind on their credit card compaies. lmao
Typically in these large luxury building the bottom section of floors are rental units and the higher floors are condos. The have separate entrances and share few amenities if any. People who own don't want to deal with people who rent. There is no playing fair or being economical, hence the high price tags. I am familiar with a unit that sold for over 12m that was worth no more than 8m. Whoever bought the unit is currently doing a full gut renovation after paying a gross amount over the value of the unit. This level of wealth does not care about a couple hundred thousand dollars. They most definitely aren't the kind of people who want to share.
The high income housing will have depressed values, and the high income people who do buy in will include some who never stop throwing shade at the undesirables. Are you familiar with America's history of public pools? Have you seen the film (or read the book) "High-Rise?" I think it's a huge win just to get the classes to live on opposite sides of the same public square and mingle in the same supermarket.
Some cities in the NYC metro require the income restricted units to be identical to the market rate units. Stamford, CT for example does this. They require 20% of all units in a building to be rented or sold at the income restricted rate. Those units are mixed throughout the complex. If a developer doesn’t want to build the affordable units on site, they need to give the city the money upfront for the entire cost of building the housing, plus an extra 20% fee for not building it on site. The city then uses the money to build the housing themselves.
@@eugene8524 Yeah it means subsidised. But subsidies aren't always a bad thing. Lots of things are subsidized in order to achieve a greater political goal (highways, farmers, etc.)
Glad to find this channel before 1000 subs! If you stick with it I bet you could break 100k in 6-12 months, and from there channels always really start to explode if the [good] content is there. Cheers!
If we go way way back to 2012 or so, Hudson Yards was supposed to include a big parcel for a new Madison Square Garden. I don't think there’s any room for it now. In any case, as impressive as Hudson Yards is in terms of engineering and design, it has not brought in the foot traffic, residential buyers and office workers as developers predicted.
Desperate to build it in fact. But financing isn't making itself available easily. Leaves one to muse that part of the permit and zoning was allowed only with the assurance to New York City Zoning that the Below Market Rental apartment units planned for Phase Two would be forthcoming. The pressure to garnish funds for mortgage compliance has extended to many of Stephen Ross' Section 8 housing complexes. The section 8 HUD units are being sacrificed in places such as Connecticut. They are being stealthily replaced with higher cash yield BMR units. Not very kosher but if Zoning Commissions in States like Connecticut are going along, and HUD is keeping quiet then Mr. Ross might just raise the cash for the mortgage he must obtain to start and finish the project. Maybe before he dies.
Only NY Democrats are allowed to that. Imagine if Trump was building this...... He would be in trouble yet again and be blamed for not liking poor folk.
If they can't build the low income housing they should lose the rights to the rest of the property, they obviously aren't capable of fulfilling their contract. If it isn't incompetence, then it's theft and they should be arrested.
This is the norm in New York. Developers get approved because they promise a certain amount of affordable housing, then the developers change the plans half way through construction. Too late for governments to punish them.
Visited HY last visit to the city a couple of months ago. Was kinda a ghost town for NYC. Wasn't much going on and Neiman Marcus is already closed. It also isn't that well connected to transit.
I used to live at Hudson Yards at Hudson 36 and prices were in line if not lower than the other new buildings in midtown. Technically the building is not part of HY (along with neighboring Lyra building), but them offering lower rates tells you something about the neighborhood. It definitely didn’t work out the way it was intended: few block north and east are crowded with homeless people while HY stands empty at most times when it’s not filled with tourists. I also mostly used Citi bike to commute since taking 7 train always added extra time to commute. Finally, it’s constantly windy out there; my 10 pound Cavalier dog was once blown up in the air during walkies. I’ve got mixed feelings about HY ngl
Congrats on being a true corporateer & faithfully touting the developer’s marketing message as a “neighborhood” despite how you correctly identified it as a development & project. Even with phase 2 completed, it’s hard to find it a neighborhood as a private development with numerous services available. Walk across the street & you’ll be in more of a neighborhood than the project will ever be on its own.
@@urbaninternational it’s not well defined, but it’s being co-opted & bastardized by developers who want to market their subdivisions as neighborhoods when they’ve never made successful, sustainable neighborhoods. It’s always been the people & local builders that create neighborhoods incrementally & flexibly.
@@ttopero What are you talking about? You do realize the majority of the buildings in NYC in "neighborhoods", at least from WW2 onwards were all build by developers, right? And in Manhattan probably for the last 100 years all buildings were built by big developers.
@@tlanimass952 the “master developer” until the 50’s were cities that planned & developed the new areas for private developers to build their buildings. It was done for creating livable neighborhoods, not to create a profit. That’s a huge distinction! It’s not about who develops the private lots as much as who “master plans” the development & their objectives.
I thought this was a B1M video for a sec lol Solid job with this man. The production is good, audio’s crisp, plus the presentation itself is insightful and well researched. Only thing I’d recommend is to develop your cadence a little bit more. Sounds like you’re reading from a script (nothing wrong with that) rather than presenting to an audience. Hey major props tho! Quality stuff here, and you’re only gonna get better with time. This channel’s definitely bound to blow; keep at it!
apparently the developers are moving away from the original plan of building a new public school and affordable residential towers (to no surprise at all) and instead want to build......A FREAKING CASINO. Hopefully there will be enough of a backlash like there was when they wanted to build a literal wall to fence off Hudson Yards, to where they'll be force to stick with their commitments and build the affordable residential towers and public school. I love new skyscrapers as much as the next guy, I take pride that the New York skyline keeps getting taller and changing, but we need to strike a balance where these developments benefit the people of New York and not just the ultra rich and tourists.
it serves well as part of High line's experience. But with so many empty office buildings now in NYC in this new remote working era, it doesnt makes sense to build new offices in the unbuilt west part of the Hudson project.
Other issue is that the luxury part of Hudson yards has a very high vacancy rate. Turns out people didn’t want to spend $5000 to live in Manhattan but with no sense of neighborhood
Why provide tax breaks to build more office space when there were already plenty of vacancies in existing buildings? Did they expect to attract corporations from other cities or simply shuffle around from existing buildings in midtown and downtown? If I'm the owner of an existing office building that is now faced with all that subsidized competition, I would be very upset.
The developers have built what they presume is the most profitable: the offices, shops and residences for the ultra-wealthy. Although "affordable" by NYC standards is expensive, that part of the development will be postponed as long as possible. One commenter noted that Hudson Yards has no convenient subway access. Well, the ultra-wealthy don't ride the subway, and they apparently don't regard the convenience of their workers to be important. Overall, I don't consider this to be a "neighborhood". It's a vanity project for the rich.
Good video! Captures the essence of Hudson Yards. One thing, though: the site was never supposed to include a stadium. Those of us who were around remember very well how hard Bloomberg pushed for the Olympics. The stadium was the most ridiculous part of that campaign, and we all knew it would never happen. It would have been impossible. It was a fantasy, never part of any concrete plans. But the drawings were cool!
@@el_covfefe It wasn't doable. The first team that ached for Hudson Yards was Steinbrenner's Yankees. But, the Dolan's who own MSG and all the teams that play in it, howled long and hard, about disruptive traffic 81 nights a year into that area of Manhattan. That would've been thee biggest nightmare in history. Forget it. If the Yankees weren't getting it, Giants/Jets weren't getting it ever. Then Bloomberg with his dopey Olympics plan. Billions for a stadium that would have 12 days use? JesusGodAlmighty. NY is the only city in the world that feels it is above the Olympics. No one wanted it here. Navigating traffic/subways/ferries to and from work, is enough of an Olympian feat for New Yawkers.
@@blaseblah204 NY wes very different when the Yankees were scouting the area. Traffic aside the project was very much doable and it would have provided a much needed stadium for the superbowl which tends to not like open stadiums
@@el_covfefe Well, there was an open air Northern city Super Bowl played in the Giants/Jets unnecessary 1.6 billion boondoggle in 2014. Why they didn't put a roof on that money pit, for a coupla hundred mil more is beyond me.
I work in the area and continue to be amazed by the construction - Especially considering what was there before. Basically this site replaced or sits on top of the rail-yards and the immediate surrounding consisted of assorted shops ie auto work, etc. I think as HY evolves it will become another enclave for the rich but perhaps the planned affordable housing for the second phase will make a difference.
@@urbaninternational Although planned only about a decade ago, the changes in the ways we live, work, shop, communicate, etc. have changed so much that I believe this behemoth is already obsolete.
I never went up into 'Vessel' in all my visits. Is is a mad, grand feat of computer aided engineering that cost approx. $200 million! If they only made something that took people from one place to anther (as in levels of the mall or to Shed) and provided an observation level(s) too. And realized what a suicide magnet was. The site was a good place for a relocated Madison Square Garden, with more mainstream multiple use development. But, no, billionaires that be (the developer, the Madison Sq. Garden owner, Mayor Bloomberg) would not have it.
apparently the guy that designed it is a huge bonehead too. I remember watching a video about all of its controversies and they could've been prevented had the designer listened to people
MSG does need to move but idk if this was a good location. There will probably be a different place to build an arena like MSG in the city and hopefully rebuild Penn Station again.
I know NYC is different from any other city but with the majority of tech firms either working fully remote or using a hybrid model at best, I'd have to think that they would need to lower office rent to prevent this from turning into a ghost town.
Looking back, the proposed West Side Stadium 15 years ago would've been a better fit considering that the buildings built on it currently which was financed publicly isn't returning the revenue the City of New York had hoped for.
Hudson yards was one of the most beautiful additions to the city in years. It’s so well done and absolutely beautiful to look at in the skyline. I think the vessel is spectacular in person.
These super expensive residential towers are not build for the city needs in general. They are build to attract super rich individuals especially corrupt money launderers from around the world which eventually makes both the city and developers rich. Same happening in Miami nowadays.
As an engineer I simply appreciate it for the engineering aspect. Building it over an active rail yard it really amazing. Expensive..and perhaps unnecessary...but amazing too.
Not to knock your knowledge, skills or the construction industry as a whole, but the construction looks so flimsy. They do one floor, pour the concrete, wait for the glue to dry then start the next level. Then they put the glass on. I know very little about construction but what happened to the giant steel girders and rivets? I’m sure I’m wrong but it looks like buildings like the Empire State Building will outlive these new glass buildings
@@grazz7865 It’s not about the building; which it normal skyscraper construction. It’s the engineering of building it overtop a rail yard. You need piles connecting the building to bedrock and must negotiate train tracks and have a structure strong enough to support it all. THAT is what is so cool about Hudson Yards. Your comment makes me think you didn’t even watch the video. “Looks so flimsy.” What the heck are you even talking about?
@@TrendyStone I was stating my opinion of the way buildings are built now. Like I said in my first comment-nothing against you or your skills or the construction industry altogether. I know very little about construction. Just my observation.
@@grazz7865 The reality is skyscrapers are better built now than ever. The model of a reinforced concrete core is much stronger than the old I-beam construction of the past. If the NY Twin Towers had been constructed with modern technology with a central core vs an exoskeleton weight-bearing exterior they would have survived.
I went to Hudson yards twice. First time was to go on the edge, The mall was like a maze of glass walls. The second time I went with my family we had the whole fountain park to ourselves majority of the time.)
@@urbaninternational Speaking of sun....my apartment at 34th/10th used to be flooded with sunlight year-round. Then came Hudson Yards and Manhattan West. Now I only get sporatic sun during the day. I wonder if the proposed buildings in phase 2 blocking the views of expensive real estate in phase 1 could be another reason for the delay. Affordable housing with a better sunset view than my $15MM condo? I'd be a little pissed if that were me!
The epic failure of the residential phase of the development is that you're out on the west side near other commercial real space. There's no place to go grocery shopping, have access to bodegas, or inexpensive restaurants. The office space rents were insanely high, so the main towers are barely filled. COVID hit and everyone transitioned to remote working. Nothing but a huge tax write-off for the developers.
There’s a massive Whole Foods there and Brooklyn Fare is on 37th St. Plenty of bodegas on 9th avenue. Truist, Wells Fargo, Vista Equity, Meta, Tapestry and loads of other big name tenants have signed on. Manhattan West, which is also nearby, has some great restaurants in addition to the restaurants at the main site.
@@GabiN64 it's crazy how the best Mexican food you'll find it in the street and how that good food could cost an average of 10% or less the price of that kind of restaurants for the elite
High production values from this channel. For your information, developer Related has submitted an application for a gaming license to bring a potential casino into this downstate spot.
It still baffles me how little the west has for spending power and how they still spend so much of it without reforming logistics and supply to streamline or spend that heapload of money on homeless or education
The developer already sold 4 residential buildings in NYC in 2023 alone. This is unheard of but with vacancies higher than ever in the history of NYC it's expected to get much much worse. Hudson Yard is a ghost town. Banks are reselling these giant loans at a lost just trying to cut the losses. Trillions in loans are due in months 😅
To be honest, most developers in Manhattan are creating playgrounds for the multi millionaires and billionaires. For all of the drama and "reality" of Million Dollar Listing, ironically Frederick Eklund (probably the number one broker in the world) actually lamented about what is happening to Manhattan with all these developments. Manhattan is already so expensive I don't know how you escape the problem (unless you go WAY north). Even though a lot of people seem to be fleeing the city, there are still enough ultra wealthy that don't want to live anywhere else but Manhattan - so developers are going to cater to them, because the money is just too good.
They will never build the affordable housing. I hope that answers your question. These deals are structured so there is no penalty for the developer not fulfilling its agreement and no mayoral administration will ever push the issue. Perhaps by 2050 you will see 10 percent of what they promised. No joke.
Live in a medium size town....all our "low income housing" has turned into run down ghettos. Lawns with litter everywhere, broken blinds in the windows, filthy foyers and dudes hanging outside drinking at all hours.
As someone coming from The Netherlands, where our biggest city has a population of like 800k, there is something about projects like this in cities like NYC that is sort of magical to me. Over here, we always see mock ups of new projects like this, and then in the mock ups, it is filled with people just walking around, using benches etc. but when these projects are finished, they hardly ever get used like that. Of course, there is people walking around, but the social spaces that are made, are pretty much never really used as a common area where people just sit and chill. When I visited New York for the first time earlier this year, it was something I really noticed, that people do actually use these social spaces. I guess it has to do with the fact that people who live in NYC actually crave spaces like that, but for me personally there is just something satisfying about seeing people use spaces like that.
I think regardless of Olympics being hosted here or not, the stadium wouldve been so much better for Hudson Yards because a stadium doesnt cost $25 billion to make. And the stadium couldve still been a architectural masterpiece as well.
I would think that the most expensive towers would be built in phase two with unobstructed views of the Hudson. The current buildings views will be ruined once towers to the west are built. One suspects that it will be decades before the second phase starts in order for current space in Hudson Yards to be fully absorbed and the rest of Manhattan for that matter. I would guess that by 2050 or 2060, will be the right time frame. I probably won't be around to see that.
Although I agree with the idea that Phase Two won’t begin til Phase One is fully absorbed, I just don’t think it will take that long. This is NYC we’re talking about, one of the most crowded and famous cities in the world. I’m sure the area will be fully absorbed by 2030 at the latest.
I walked through the outdoor spaces and The Shops the other day (August 2023) and I have mixed feelings. I think that the buildings are gorgeous and I'd be happy to see stuff this pretty pop up all over the city. Old school NYC style is great (brownstones, Victorian) but lots of the city was built on the cheap and not maintained well ... replacing it with glass towers helps NY keep up with the times a bit. Shanghai will always be shinier, but adding modern touches to NY helps to keep it attractive. But The Shops and Restaurants at Hudson Yards is kind of obscene and kind of a joke. The list of luxury brands on the first floor is close to a clone of Fifth Avenue stores that have a deep history (Cartier, Tiffany) yet the stores are all empty! Go up the escalators to floor 2 through 5 and it just gets depressing ... nothing noteworthy at all and you almost expect to see an old Sears or K-Mart with a "going out of business" sign. It's hard to say that NYC needed a new cluster of high-end shopping on the West edge of midtown, but if it did need it then this was certainly a failure. I do hope that Phase 2 (the Western half) gets built and achieves its goals (e.g. affordable (ahem ...) housing). If more people who were not super-wealthy lived there, this might become more of a real neighborhood. And the engineering is pretty cool as well.
@@urbaninternational No, the problem is attracting their targeted demographic. The top 0.5% is super frugal and won't even look twice at something like this due to being cash poor. Nearly 100% of their assets are in the stock market. If the stock market were to crash to 0 tomorrow people like Elon Musk and Warren Buffet would be worth $0 because they put 100% of their salary in stocks and live off of credit. That's why you see all these billionaires living a modest lifestyle. The top 0.5% has a mental issue and they're simply not going to spend the money. That's where Life Coaches and Lifestyle experts should come in and convince these super rich people to sell some of their stocks and live a little. they're hoarders who just want to be known as the richest man (person) on earth.
absolutely. NYC used to be the icon of modern arch and skyscrapers, but now China, Dubai have overtaken it. Thankfully this Developer took the risk to face lift aging Manhattan. Affordable housing in the middle of this is just a crazy idea, unrealistic.
Hudson Yards is a super luxury area that is mostly empty and had one of the worst timings of any major construction project since the Great Depression. It looks very nice but seems to be more than half empty. I wonder how many units are used by for money laundering like on Billionaire's Row a few blocks north... or maybe asking for their money bad due to a bad real estate investment.
Sort of - but the Chinese ghost cities are on a whole different level - and at least the quality of the construction in Manhattan is far superior to the absolute garbage that passes for "new" in China. Maybe that will start to change as China starts focusing on the issue - maybe.
Thank you for the update. Great video. I would be quick to assume that possibly the pandemic and general supply chain issues led to delays in the Western Yards. Either way, I'm optimistic that it'll get done, and hopefully in a way that serves the city very well.
Covid certainly didn't help the project development, will be interesting to see how things progress now that the covid situation isn't what it was 2 years ago
1. A railyard in Manhattan is necessary to handle people commuting into the city, although it is still considered an eyesore. 2. Under normal circumstances, a building would not be built on top of the railyard because it is more complicated and expensive to build a support structure over the yard. 3. Demand for new luxury apartments can be met by building new buildings. A support structure could be built to support the buildings if the developer was confident that they would be able to cover all of those additional costs. Only very expensive partners can justify this investment. 4. Wealthy New Yorkers who love the city will stay regardless if Hudson yards exists or not, they instead continue to live in their current luxury apartment which was built 10 years ago. This cycle causes the upper class to take up valuable middle and lower inventory, effectively pricing out the lower class.
Whether people like it or not, Hudson Yards is, functionally, the spiritual successor to the old World Trade Center. A cohesive complex of expensive offices atop a mall and a uniform central plaza. Remember, before 9/11, the WTC was considered an eyesore by many, and people criticized it for displacing "Radio Row" to create a massive superblock. The new WTC did a better job at reconnecting the street grid and blending in with the surrounding neighborhood, but it doesn't have the same cohesive feeling like the old WTC did (and how Hudson Yards does now).
What if they built a town there for workers who could fill those offices? What's wrong with having a school and some grocery stores and some parks and delis on corners? It's such a joke as is, no one with big money wants to live in Nowhere Town. There is no prestige about this place. Dress up like a million bucks.....who's going to see you? There's nobody there. Eat at which plush place? Back to Soho.
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okay Got a question i have always been wondering why do no skyscrappers have walk bridges connecting to eachother ?
You can't park your car in Hudson Yard.
A few notes about Hudson Yards as someone who lived a block away from it. It is widely inaccessible by transit. The closest train is either the 7 (which you would have to take most lines up to 42nd to get to the 7) or Penn station and walk 3 blocks over. The construction in CONSTANT the sideways are blocked off and it’s dangerous to be walking in the middle of the construction zones everywhere, also the noise never stops. It’s beautiful but also a full on nightmare and the malls biggest tenant Neiman Marcus closed not even two years after it opened up, leaving the large anchor space empty. Hudson yards was designed for an elite clientele at the peak of a pandemic and now a recession so it only makes sense that the project is bleeding money
Those are some great points
It’s like Xanadu over in NJ but with apts
@@urbaninternational #Unlimited_Internet_In_Egypt
#انترنت_غير_محدود_في_مصر
Perfect example of why MTA should be returned to the city or major expansions of infrastructure beyond downstate should be built so upstate New Yorkers like me feel like our taxes to the mta benefit us and so more revenue overall can be made. In my “city” upstate we don’t have a bus system after 6-7pm depending on the day/ season. That’s ludicrous yet we subsidize the MTA. You’d think the state of new York would be interested in expanding the mta to include more people and connect more cities than 2 Amtrak trains a day that are of course empty how can you rely on a system with 0 frequency or infrastructure. The city of new York built the new 7 station and they clearly know better than greedy politicians in Albany where their system is lacking.
@@damnimloomin #Unlimited_Internet_In_Egypt
#انترنت_غير_محدود_في_مصر
Demand for affordable housing is higher than ever! That means it's time to increase supply! Right? Right?? Oh. There's no money in it. Right.
That’s part of the problem 😳😳
My thing is why don’t they just lower the prices?🤷🏽♂️ yea it’ll take longer to recoup but at least you’ll have tenants. Rather have empty useless beautiful buildings
@@davidalford5889 and yet, things like Millionaires' Row in NYC exist - beautiful, expensive, empty buildings. There is no money in regular buildings for regular people. There is LOTS and LOTS of money in cheaply built, shiny buildings sold for millions and millions to people who have 3 or 4 residences already. The interior designer who convinced the mega-rich that unfinished plywood is a high-end luxury room finish is some kind of sympathetic supervillain.
@@davidalford5889 Take a look at the covid 19 crap. they made land lords give free rent. it is cheaper to leave empty
@@gregoryferraro7379 get rid of rent control and there will be lots of cheap places to rent
As a 72 year old New Yorker, I can say that the whole development is cold, boring, and too far from the river.
All the shops are luxury chain stores that overcharge to people who can afford them.
A major disappointment.
They literally have h&m, Zara, Levi’s etc in spades as well in the first two floors
I can't help but think that it's just a scheme.
avoid taxes or launder money.
also: this kind of minimalist approach is not what humans feel connected to.
that bloody "vessel" is like an alien beehive. creepy vibes
@@Pikachu-qr4yb ... and they can all pick up and leave. This crap is killing NYC.
No one shops in malls anymore. Especially for low quality clothing. What were these developers thinking?
It does look really cool as you see the towers walking along the highline. So there is that.
Hudson Yards is a gated community that doesn't serve the community, it's primarily a tourist attraction. HY received a $350 Million tax break from the city in exchange for promised affordable housing. It has failed. Their cornerstone, Neiman Marcus, filed for bankruptcy last year. Equinox hotel is up for sale. Three people took their lives by jumping off the vessel. The existing community repeatedly requested the vessel be retro-fitted with an enclosure or taken done. Now Related, parent company of HY, wants to put a casino in HY. The surrounding community has the highest street homeless population in the city and has requested instead affordable housing be built. City officials allowed a working class neighborhood to be turned into a tourist attraction, forcing many residents out. HY is the worst financial failure in the history of the city, and was even before the pandemic.
-Hell's KItchen Block Association
Well said. I agree.
You summed it up perfectly. I watched the entire thing rise from my apartment window on 42nd St. Totally not surprised when the second phase uh..'stalled'.
I've been there twice - not even worth the walk
Yes, keep voting democrat.
@@Byronic19134 as if voting for a neo liberal-fascistic Republican party will be better.
Typical nyc corruption real estate elite control the mayor and city council
We accidentally ended up there after taking the wrong train and had no idea where we were when we walked up. It was surprising both in how lavish the area is and how few people were there.
It's crazy isn't it?
The units are going for half price now. The people who paid full price must feel like suckers.
@@urbaninternational Definitely, that area feels like its in a huge identity crisis
The Dubai of America
It was hot in the beginning but I’m sure as more and more tourists had to have loans approved just to go there, the word began to spread. Crooked joe bidens inflation isn’t helping the situation.
The Vessel is the perfect artistic metaphor for this boondoggle....flashy escalators, elevators and stairs leading upward to nowhere....
Ross even paid a fortune to have M.C. Escher resurrected from the dead just to design this. After all, money can buy anything in Manhattan, right?
It looks like a giant suicide booth designed by Apple.
I loathe both the Vessel, just from an architectural standpoint, not even taking the fact that it's a irrelevance of stairs to nowhere. But compared to the Oculus downtown it's gorgeous.
And then there's the repeated suicides 😢 at the top of the object
they decided to permanently close it.
They have no intention of building the affordable housing be real. They will continue to say they will build something so they can keep getting tax handouts, and once they are forced to build something it will just be sub-luxury condos that go for 3,000 for a 1br, but they will say it's affordable for the "neighborhood" because the normal prices are astronomical in Hudson Yards. Or the developer will just sell out after squeezing as much money from the project as possible and pass the buck to the city or another developer that may or may not build the affordable housing either. My 2 cents: the affordable housing will probably never be built as is often the case in these projects.
They could have built mixed income condos/apartments from the start like they do in other parts of the city, but they couldn't sell to Saudi Royalty and billionaires who don't even want to be withing sniffing distance of the lower classes if they did that.
"affordable housing" is beginning to sound like a scam for these greedy developers
No one should be required to build a house under price for someone else. Apparently democrats still believe in slavery, because that's slavery.
@@ThisJustin_87 It's most definitely a scam. If the minimum wage is $15 per hour, and a landlord requires your household income to be 3x the rent, an "affordable" unit for a full-time minimum wage worker is about $600 per month. Hudson Yards will never have a single housing unit anywhere near $600. There isn't a single private developer in America working on an urban housing project that creates $600 units. Don't believe your local government when they say they're working with private developers on "affordable housing."
It's a scam. No way they build "affordable housing" to block their luxury home water view.
@@ThisJustin_87 For most Americans only free is affordable
Forgot to mention that phase 2 was also dependent on financing for the Gateway Tunnel project which will run under Hudson Yards to Penn Station. That financing was also delayed.
That's a very good point I should've mentioned in the video
Gateway Tunnel may come back with new infrastructure bill passing.
That is correct
The gateway tunnel project has turned into a f***ing nightmare
New York manages to constantly disappoint it's citizens by doing every civil engineering project with the maximum amount of delays, controversy, budget overruns and political bickering possible.
They always excuse themselves for this by saying "Oh, but it's so complicated doing this in Manhattan" despite the fact that there are many cities around the world with equal or greater challenging urban contexts who do not take 40 years to build just part of one new metro line and who have much more aesthetically pleasing results that NYC - which still manages to make passengers feel like they are scurrying through the city sewers like herds of overgrown rats.
At the present, China in particular is putting New York and the American way of (not) building infrastructure and adequate public transport systems to shame. Sure, they have the advantage of cheap labor and the authoritarian ability to just force a project through. So we can console ourselves with that ... or we could get our act together and show that democracies can actually serve their citizens just as well.
I live a few blocks from Hudson Yards. Driving from NJ the new buildings block out views of the Empire State Building. It's like Ft. Lauderdale or Kansas City was plopped down in Midtown Manhattan. There's a ripple effect of Covid, so I understand the developers' reluctance to build the affordable housing, but they must do so. Billionaires must stop breaking rules and serving themselves before serving the greater good.
Like China?
Can you elaborate? Have you been to kc
I worked on those buildings… I’m a local 3 IBEW electrician and I have to say I’m proud to have worked on this project.. can’t wait to see if our shop will get the rest of the work and I go back on that job site 👍♥️
Did you work on 30 hudson? Im local 94 in there we run a chiller plant in 30 hudson such a nice area glad i got placed there
@@RichLclips Good luck. I remember when trades members could afford homes.
@@jimmiller5600 yea especially living on long island lol, im lucky to have lot of overtime
@@RichLclipsoh you’ll get all the overtime you could ever want. Right now it’s like building on steroids. And (not to your fault) it’s an effort to kick us all out and bring in the rich. What does the future hold for the construction industry? What I mean is, when all the old buildings are torn down and the shity is just a sheet of glass instead of beautiful hand carved buildings, what will happen to all the construction jobs?
$$$$$$$$$$$$$ in your pockets...Id be proud too
Great video, the quality of this video made me assume this channel's subs were over a quarter million. This channel will for sure blow up quickly!
Well hey thank you for watching and for your positive feedback :) I hope this channel grows big too!!
This is also a neighborhood people don't naturally pass by. I lived nearby and Hudson Yards was the nearest place for me to sit down and get a coffee, have a stroll through Zara and have a break from the outside noise, but there really isn't much else to the place? Can't really get there comfortably with public transport, it feels like it's just a neighborhood in a hidden corner of Manhattan and the construction on 34th right makes it such an unwelcoming place.
Exactly, it's not in a very convenient location, so it's "out of the way" for a lot of people unless they go here for work or because they live here (if they can afford the sky high prices)
I went to go in the edge. Was a very fun area
A dystopian hellscape that gives people the final motivation to end it all. Ooh, look at the fixtures in that luxury condo!
Wow!
A hallmark of American vanity.
😂
as if the rich care lol
@@voicai7910 a Hallmark of America obsession with success$
The concept is so cool, building on top of an active rail yard. I just don't understand how the costs of building and renting here can ever be justified though. Rent in NYC is high despite empty units. Employers are diversifying by opening up offices in smaller cities across the country. And once smaller cities have become large. CIties like Miami, Fort Lauderdale, Houstan, and Dallas have become massive. It just doesn't make sense to me.
because its about prestige, the prestige of owning a downtown penthouse in New York city is one of the best things you can do to fully cement your billionaire or multi-millionaire status, even if that drives the average person away.
@@Commodore122 wow all millionaires must die alone then????
I hope that these cities will make NYC rent go down. $3,000 a month for a studio is insanity
Ft laud is nothing special at all
New Yorker here. I never heard a single person in Manhattan say I want to go to Hudson Yards. First of all, did you know that in order to get to the damn place you can only access it with the 7 train? I mean, it’s the 7 train, the one you board at the LOWEST platform in the city. 5 stairs for that? No, thank you! We walk enough in this city.
People have commented that- I don't know much about how the trains work in NYC
Your point about office space is something that developers need to take note of. The pandemic taught us that there are much more efficient ways of working and that offices aren't always necessary. I live in a very populated/popular area and office spaces have been nearly half vacant for years now. Office parks only take up land and their parking lots go empty.
I hope one day developers realize that there is still good money in making affordable housing instead of building empty luxury spaces. There are millions of people out there that pay on time and are great tenants!
Worse thing is they're STILL building more office space in & around Hudson Yards. Manhattan west is a similar multi-building development with even MORE office space going in
There's only so many luxury apartments that can be built before you run out of ultra wealthy people, and these kind of places seem to be being built all over the world. Sooner or later you've got to cater for the average person if you actually want to sell places.
Very true
that's a good thing, building more housing lowers housing costs.
The fact the city gave them money to build that was crazy in the first place like how many floors can be in a sky scraper and how many apartments
The shity is building on steroids right now. It’s an effort to kick us all out and bring in the rich while cleaning up the crime all in one shot
A sky scraper can have many floors and tons of apartments? What point are you trying to make here exactly..
@@AV1AT1XN I don’t even know my self anymore 🤣🤣🤣
the problem is that it does not feel like a neighborhood; It's just an attraction.
Tall vertical structures do not a neighbourhood make. Cold, impersonal, and no soul or vibrancy. Not even the Vessel could encourage the will to enjoy life.
Interesting fact. This project was green lot when I was in college and in architecture school which emphasized urban development so we focused on this projects intial proposal. The developer did not want affordable housings in it, it was pushed onto them by the city who in turn had it pushed onto them by the city residents. In fact, in an early draft, they were supposed to build the entire platform upfront, but changed the plan when the affordable housing portion was added. Even then people realized they were going to try to bail on that aspect of development.
Thank you for sharing this RE development there in the Big Apple. I will also ask family that lives in NY what they think about the new Hudson Yards as well.
Thanks for watching, I'd definitely be curious what your family thinks about it
The big spirally thing in the middle is stupid. NYC does not need another worthless monument.
Westworld season 4 really made this area stand out. The architecture matched the aesthetic of the show perfectly.
The government could literally just force developers to build affordable housing in a timely fashion in order to receive any subsidy on the entire project, but they won’t do that for reasons. 🙃 The subsidizing of these projects means all locals regardless of income are essentially paying (tax) money to fund wealthy developers who ultimately reward locals with high rents.
the government will never do that because they will lose there kick back , you know. ( 20% FOR THE BIG CLOWN) in Washing-scam D.C. . we all know how that works don't we. lol lol lol
People in other parts of the world (and in New York in earlier eras) build tall buildings much quicker and cheaper than NYC and thus the cost of living in said buildings are a lot more affordable. Because local regulations are the primary reason that New York construction is so expensive, the locals are in fact raising their own rents via their voting decisions, while passing the blame to "greedy developers".
@@Letsplay222 I can assure you locals voting for public officials or ordinances does not have the same impact as developers lobbying and/or bribing politicians in any remote capacity, like… be serious. We’re not blaming voters for lack of affordable inventory, which is a national issue btw not just a NYC issue.
@@darkinetix Well it is a national issue in that immigration is completely unrestrained such that their always more people looking for less housing, that I agree with. Something has to be done with that. That doesn't mean that a voter can't make a difference locally.
It's pretty ludicrous to state that the land developers are the reason that housing is so expensive. If anything it is the people STOPPING developers from doing their job with endless court filings and environmental impact reports, both of which can be significantly reduced through proper regulatory reform.
Another reason high income and low income housing should be built fully integrated. Tuck some small apartments in in between the luxury apartments. Let them share amenities like pools.
yea but you think the elites want to be in the same living space as us filthy commoners who can barely afford to pay the rent.
you think they want to interact with more people that have 150 million dollar yachts or you think they want to hear the poor whine about how they are behind on their credit card compaies.
lmao
Typically in these large luxury building the bottom section of floors are rental units and the higher floors are condos. The have separate entrances and share few amenities if any. People who own don't want to deal with people who rent. There is no playing fair or being economical, hence the high price tags. I am familiar with a unit that sold for over 12m that was worth no more than 8m. Whoever bought the unit is currently doing a full gut renovation after paying a gross amount over the value of the unit. This level of wealth does not care about a couple hundred thousand dollars. They most definitely aren't the kind of people who want to share.
The high income housing will have depressed values, and the high income people who do buy in will include some who never stop throwing shade at the undesirables.
Are you familiar with America's history of public pools?
Have you seen the film (or read the book) "High-Rise?"
I think it's a huge win just to get the classes to live on opposite sides of the same public square and mingle in the same supermarket.
Some cities in the NYC metro require the income restricted units to be identical to the market rate units. Stamford, CT for example does this. They require 20% of all units in a building to be rented or sold at the income restricted rate. Those units are mixed throughout the complex. If a developer doesn’t want to build the affordable units on site, they need to give the city the money upfront for the entire cost of building the housing, plus an extra 20% fee for not building it on site. The city then uses the money to build the housing themselves.
it dont work. 80% of low income are trouble
should always make them build the affordable part first.
Fair point
"affordable" -means we pay to make it "affordable"
@@eugene8524 so f n what rather live with so called poorer people then Wealthy people that should all be hung drawn and quartered
@@eugene8524 Yeah it means subsidised. But subsidies aren't always a bad thing. Lots of things are subsidized in order to achieve a greater political goal (highways, farmers, etc.)
@@eugene8524 we pay for everything, your point?
Thanks for the video. Answers a lot of questions abt it.
Glad to find this channel before 1000 subs! If you stick with it I bet you could break 100k in 6-12 months, and from there channels always really start to explode if the [good] content is there.
Cheers!
Thanks for your positive comment! I certainly hope this channel one day reaches 100k subs!! Fingers crossed
If we go way way back to 2012 or so, Hudson Yards was supposed to include a big parcel for a new Madison Square Garden. I don't think there’s any room for it now. In any case, as impressive as Hudson Yards is in terms of engineering and design, it has not brought in the foot traffic, residential buyers and office workers as developers predicted.
Earned an instant sub. This video is so very well made
Thank you so much!
I got to visit and climb up the Vessel shortly after it opened. Beautiful structure.
Crazy that there's a whole new neighborhood of affordable housing waiting to be built and they refuse to build it.
Yeah crazy crazy like a fox.
Desperate to build it in fact. But financing isn't making itself available easily. Leaves one to muse that part of the permit and zoning was allowed only with the assurance to New York City Zoning that the Below Market Rental apartment units planned for Phase Two would be forthcoming. The pressure to garnish funds for mortgage compliance has extended to many of Stephen Ross' Section 8 housing complexes. The section 8 HUD units are being sacrificed in places such as Connecticut. They are being stealthily replaced with higher cash yield BMR units. Not very kosher but if Zoning Commissions in States like Connecticut are going along, and HUD is keeping quiet then Mr. Ross might just raise the cash for the mortgage he must obtain to start and finish the project. Maybe before he dies.
Only NY Democrats are allowed to that. Imagine if Trump was building this...... He would be in trouble yet again and be blamed for not liking poor folk.
@@RoadKing65 republicans are even worse though they would just offer thoughts and prayers.
Excellent docu! Really enjoyed this 👌
If they can't build the low income housing they should lose the rights to the rest of the property, they obviously aren't capable of fulfilling their contract. If it isn't incompetence, then it's theft and they should be arrested.
I wonder if that was part of the plan all along? Why block the coveted views with peasant (totally kidding) housing towers?
My prediction is they'll sell the entire development at a profit and let the incomplete housing be someone else's problem.
its Ass holes like you is why Nyc and New york State are loosing people and house seats
This is, by far, the dumbest comment I’ve read all day.
This is the norm in New York. Developers get approved because they promise a certain amount of affordable housing, then the developers change the plans half way through construction. Too late for governments to punish them.
First video I’ve watched of yours and I’m shocked your channel doesn’t have more subscribers. But at least it has one more :)
Aye well thanks for your positive comment and for subscribing :))
Visited HY last visit to the city a couple of months ago. Was kinda a ghost town for NYC. Wasn't much going on and Neiman Marcus is already closed. It also isn't that well connected to transit.
I used to live at Hudson Yards at Hudson 36 and prices were in line if not lower than the other new buildings in midtown. Technically the building is not part of HY (along with neighboring Lyra building), but them offering lower rates tells you something about the neighborhood.
It definitely didn’t work out the way it was intended: few block north and east are crowded with homeless people while HY stands empty at most times when it’s not filled with tourists. I also mostly used Citi bike to commute since taking 7 train always added extra time to commute. Finally, it’s constantly windy out there; my 10 pound Cavalier dog was once blown up in the air during walkies.
I’ve got mixed feelings about HY ngl
Congrats on being a true corporateer & faithfully touting the developer’s marketing message as a “neighborhood” despite how you correctly identified it as a development & project. Even with phase 2 completed, it’s hard to find it a neighborhood as a private development with numerous services available. Walk across the street & you’ll be in more of a neighborhood than the project will ever be on its own.
I guess the term neighborhood is more of a subjective word
@@urbaninternational it’s not well defined, but it’s being co-opted & bastardized by developers who want to market their subdivisions as neighborhoods when they’ve never made successful, sustainable neighborhoods. It’s always been the people & local builders that create neighborhoods incrementally & flexibly.
You think you are much smarter than you actually are.
@@ttopero What are you talking about? You do realize the majority of the buildings in NYC in "neighborhoods", at least from WW2 onwards were all build by developers, right? And in Manhattan probably for the last 100 years all buildings were built by big developers.
@@tlanimass952 the “master developer” until the 50’s were cities that planned & developed the new areas for private developers to build their buildings. It was done for creating livable neighborhoods, not to create a profit. That’s a huge distinction! It’s not about who develops the private lots as much as who “master plans” the development & their objectives.
I thought this was a B1M video for a sec lol
Solid job with this man. The production is good, audio’s crisp, plus the presentation itself is insightful and well researched.
Only thing I’d recommend is to develop your cadence a little bit more. Sounds like you’re reading from a script (nothing wrong with that) rather than presenting to an audience.
Hey major props tho! Quality stuff here, and you’re only gonna get better with time. This channel’s definitely bound to blow; keep at it!
Appreciate the comment. B1M is definitely a channel I'm inspired by
apparently the developers are moving away from the original plan of building a new public school and affordable residential towers (to no surprise at all) and instead want to build......A FREAKING CASINO. Hopefully there will be enough of a backlash like there was when they wanted to build a literal wall to fence off Hudson Yards, to where they'll be force to stick with their commitments and build the affordable residential towers and public school. I love new skyscrapers as much as the next guy, I take pride that the New York skyline keeps getting taller and changing, but we need to strike a balance where these developments benefit the people of New York and not just the ultra rich and tourists.
it serves well as part of High line's experience. But with so many empty office buildings now in NYC in this new remote working era, it doesnt makes sense to build new offices in the unbuilt west part of the Hudson project.
Other issue is that the luxury part of Hudson yards has a very high vacancy rate. Turns out people didn’t want to spend $5000 to live in Manhattan but with no sense of neighborhood
Why provide tax breaks to build more office space when there were already plenty of vacancies in existing buildings? Did they expect to attract corporations from other cities or simply shuffle around from existing buildings in midtown and downtown? If I'm the owner of an existing office building that is now faced with all that subsidized competition, I would be very upset.
It’s just an effort by the shity to kick people like me out and bring in the rich
The developers have built what they presume is the most profitable: the offices, shops and residences for the ultra-wealthy. Although "affordable" by NYC standards is expensive, that part of the development will be postponed as long as possible. One commenter noted that Hudson Yards has no convenient subway access. Well, the ultra-wealthy don't ride the subway, and they apparently don't regard the convenience of their workers to be important. Overall, I don't consider this to be a "neighborhood". It's a vanity project for the rich.
I worked at B&H Photo for 8 years and saw a lot of Hudson Yards being built on my way to work.
Good video! Captures the essence of Hudson Yards. One thing, though: the site was never supposed to include a stadium. Those of us who were around remember very well how hard Bloomberg pushed for the Olympics. The stadium was the most ridiculous part of that campaign, and we all knew it would never happen. It would have been impossible. It was a fantasy, never part of any concrete plans. But the drawings were cool!
I disagree it was very doable and surprisingly when Giants/Jets went back to NJ the new stadium wasn't covered
@@el_covfefe It wasn't doable.
The first team that ached for Hudson Yards was Steinbrenner's Yankees.
But, the Dolan's who own MSG and all the teams that play in it, howled long and hard, about disruptive traffic 81 nights a year into that area of Manhattan.
That would've been thee biggest nightmare in history.
Forget it.
If the Yankees weren't getting it, Giants/Jets weren't getting it ever.
Then Bloomberg with his dopey Olympics plan.
Billions for a stadium that would have 12 days use?
JesusGodAlmighty.
NY is the only city in the world that feels it is above the Olympics.
No one wanted it here.
Navigating traffic/subways/ferries to and from work, is enough of an Olympian feat for New Yawkers.
@@blaseblah204 NY wes very different when the Yankees were scouting the area. Traffic aside the project was very much doable and it would have provided a much needed stadium for the superbowl which tends to not like open stadiums
@@el_covfefe Well, there was an open air Northern city Super Bowl played in the Giants/Jets unnecessary 1.6 billion boondoggle in 2014.
Why they didn't put a roof on that money pit, for a coupla hundred mil more is beyond me.
@@blaseblah204 agreed
I work in the area and continue to be amazed by the construction - Especially considering what was there before. Basically this site replaced or sits on top of the rail-yards and the immediate surrounding consisted of assorted shops ie auto work, etc.
I think as HY evolves it will become another enclave for the rich but perhaps the planned affordable housing for the second phase will make a difference.
Sounds like rich people investing in other rich people. Too bad because it looks nice and could have been a whole new community for New Yorkers.
True
My understanding is that offices, shops and apartments are not getting rented out as well as planned.
Correct
@@urbaninternational Although planned only about a decade ago, the changes in the ways we live, work, shop, communicate, etc. have changed so much that I believe this behemoth is already obsolete.
I never went up into 'Vessel' in all my visits. Is is a mad, grand feat of computer aided engineering that cost approx. $200 million! If they only made something that took people from one place to anther (as in levels of the mall or to Shed) and provided an observation level(s) too. And realized what a suicide magnet was.
The site was a good place for a relocated Madison Square Garden, with more mainstream multiple use development. But, no, billionaires that be (the developer, the Madison Sq. Garden owner,
Mayor Bloomberg) would not have it.
apparently the guy that designed it is a huge bonehead too. I remember watching a video about all of its controversies and they could've been prevented had the designer listened to people
@@oksobasicallyimmonky I want to see that story. Thanks. Will search it.
@@stevenj2380 it's by Ask A Mortician. Video title "Is This $250 million selfie spot dangerous?" Pretty interesting watch
MSG does need to move but idk if this was a good location. There will probably be a different place to build an arena like MSG in the city and hopefully rebuild Penn Station again.
I just find it amazing how it's kind of like a city within a city
Never be as much of a city within a city like the Twins were
I know NYC is different from any other city but with the majority of tech firms either working fully remote or using a hybrid model at best, I'd have to think that they would need to lower office rent to prevent this from turning into a ghost town.
I definitely agree w/ that
why not work Remote. Blue states and citys have Treated people like crap
HOW ABOUT LOWER CRIME RATE Nyc was very safe under Rudy
@@dknowles60 NYC had a lower crime rate under bloomberg and de blasio. NYC crime rate is nowhere near the 90s
@@GabiN64 wrong
Looking back, the proposed West Side Stadium 15 years ago would've been a better fit considering that the buildings built on it currently which was financed publicly isn't returning the revenue the City of New York had hoped for.
Hudson yards was one of the most beautiful additions to the city in years. It’s so well done and absolutely beautiful to look at in the skyline. I think the vessel is spectacular in person.
I've never been to the vessel but it's on my list
It’s very nice imo. Sunset is beautiful and chill. Train is ez and clean to take
I was in Manhattan for World Pride and I visited Hudson Yards. It's beyond spectacular.
That's awesome to hear!
Its also a soulless shopping mall that has the vibe of Tyson's Corner.
Oh wow
These super expensive residential towers are not build for the city needs in general. They are build to attract super rich individuals especially corrupt money launderers from around the world which eventually makes both the city and developers rich. Same happening in Miami nowadays.
Valid point
As an engineer I simply appreciate it for the engineering aspect. Building it over an active rail yard it really amazing. Expensive..and perhaps unnecessary...but amazing too.
I respect it! I'm sure they overcame some huge challenges from an engineering and structural perspective with each of these buildings
Not to knock your knowledge, skills or the construction industry as a whole, but the construction looks so flimsy. They do one floor, pour the concrete, wait for the glue to dry then start the next level. Then they put the glass on. I know very little about construction but what happened to the giant steel girders and rivets? I’m sure I’m wrong but it looks like buildings like the Empire State Building will outlive these new glass buildings
@@grazz7865 It’s not about the building; which it normal skyscraper construction. It’s the engineering of building it overtop a rail yard. You need piles connecting the building to bedrock and must negotiate train tracks and have a structure strong enough to support it all. THAT is what is so cool about Hudson Yards.
Your comment makes me think you didn’t even watch the video. “Looks so flimsy.” What the heck are you even talking about?
@@TrendyStone I was stating my opinion of the way buildings are built now. Like I said in my first comment-nothing against you or your skills or the construction industry altogether. I know very little about construction. Just my observation.
@@grazz7865 The reality is skyscrapers are better built now than ever. The model of a reinforced concrete core is much stronger than the old I-beam construction of the past. If the NY Twin Towers had been constructed with modern technology with a central core vs an exoskeleton weight-bearing exterior they would have survived.
I went to Hudson yards twice. First time was to go on the edge, The mall was like a maze of glass walls. The second time I went with my family we had the whole fountain park to ourselves majority of the time.)
Phase 2 needs to be for artists
That would certainly be interesting
You can see it briefly in the video here, but the way the sun sets on the glass buildings is really cool. I got to see it first hand the other day.
It really is cool
@@urbaninternational Speaking of sun....my apartment at 34th/10th used to be flooded with sunlight year-round. Then came Hudson Yards and Manhattan West. Now I only get sporatic sun during the day. I wonder if the proposed buildings in phase 2 blocking the views of expensive real estate in phase 1 could be another reason for the delay. Affordable housing with a better sunset view than my $15MM condo? I'd be a little pissed if that were me!
The epic failure of the residential phase of the development is that you're out on the west side near other commercial real space. There's no place to go grocery shopping, have access to bodegas, or inexpensive restaurants. The office space rents were insanely high, so the main towers are barely filled. COVID hit and everyone transitioned to remote working. Nothing but a huge tax write-off for the developers.
Went to a mexican restaurant in that area. The food was high priced and bland as well with poor seasoning
There’s a massive Whole Foods there and Brooklyn Fare is on 37th St. Plenty of bodegas on 9th avenue. Truist, Wells Fargo, Vista Equity, Meta, Tapestry and loads of other big name tenants have signed on. Manhattan West, which is also nearby, has some great restaurants in addition to the restaurants at the main site.
@@GabiN64 it's crazy how the best Mexican food you'll find it in the street and how that good food could cost an average of 10% or less the price of that kind of restaurants for the elite
@@RayDenis People who complain about it have never been there
Very informative video!
Thanks for watching!
Looks like Dubai on the Hudson. The sterility quotient of this turkey approaches infinity.
Hahaha
NY City
The cities never sleep
Be safe fellas, and God bless you all,
Excellent videos well done like always,
Matatan.🤔.
Ribirin Hs,
High production values from this channel. For your information, developer Related has submitted an application for a gaming license to bring a potential casino into this downstate spot.
Noted; thank you
They should have been made build the affordable apartments first, they’ll never build them now. Great video by the way.
In the end, the decision by Amazon not to locate HQ2 at Hudson Yards was a factor in slowing down development.
If Amazon go on like they did they will get smashed sooner or later…for infringement of Antitrust laws…
I thought amazon HQ2 was going to be built in long island, not hudson yards?
@@alfonsovieyra9321 You are correct, HQ2 was to be in Long Island City Queens. Nothing to do with this.
Yeah that's correct HQ2 was not going to be built in HY, I'm pretty sure the city decided it was NOT a good idea for HQ2 to happen within Manhattan
I was there two months ago. HYs are awesome!!!
It still baffles me how little the west has for spending power and how they still spend so much of it without reforming logistics and supply to streamline or spend that heapload of money on homeless or education
you watch too many videos on crumbling infrastructure. Everything is fine here, they just say its not over over and over again
The developer already sold 4 residential buildings in NYC in 2023 alone. This is unheard of but with vacancies higher than ever in the history of NYC it's expected to get much much worse.
Hudson Yard is a ghost town.
Banks are reselling these giant loans at a lost just trying to cut the losses. Trillions in loans are due in months 😅
Do you think the developers had good intentions? Or is Hudson Yards ultimately just a billionaire's playground?
To be honest, most developers in Manhattan are creating playgrounds for the multi millionaires and billionaires. For all of the drama and "reality" of Million Dollar Listing, ironically Frederick Eklund (probably the number one broker in the world) actually lamented about what is happening to Manhattan with all these developments. Manhattan is already so expensive I don't know how you escape the problem (unless you go WAY north). Even though a lot of people seem to be fleeing the city, there are still enough ultra wealthy that don't want to live anywhere else but Manhattan - so developers are going to cater to them, because the money is just too good.
Do you think the developers will park their cars in Hudson Yards?
It's hideous. I wish they would tear it all down.
All of Downtown and Midtown is billionaires children playground.
no, they cater to the rich, manhattan developers dont care about humans
I went to Hudson yards. It was so fun I went on the edge.
They will never build the affordable housing. I hope that answers your question. These deals are structured so there is no penalty for the developer not fulfilling its agreement and no mayoral administration will ever push the issue. Perhaps by 2050 you will see 10 percent of what they promised. No joke.
Outstanding content.
Thank you!
Stop giving tax breaks for promises to build stuff we want. Tax the shit out of the rich and build your own low income housing.
Live in a medium size town....all our "low income housing" has turned into run down ghettos. Lawns with litter everywhere, broken blinds in the windows, filthy foyers and dudes hanging outside drinking at all hours.
Thank You For Your Personal Opinion
As someone coming from The Netherlands, where our biggest city has a population of like 800k, there is something about projects like this in cities like NYC that is sort of magical to me.
Over here, we always see mock ups of new projects like this, and then in the mock ups, it is filled with people just walking around, using benches etc.
but when these projects are finished, they hardly ever get used like that. Of course, there is people walking around, but the social spaces that are made, are pretty much never really used as a common area where people just sit and chill.
When I visited New York for the first time earlier this year, it was something I really noticed, that people do actually use these social spaces.
I guess it has to do with the fact that people who live in NYC actually crave spaces like that, but for me personally there is just something satisfying about seeing people use spaces like that.
There are too many people, in too small apartments, with too few public spaces. It’s why the few that are present are so crowded.
Great video. I subscribed, and looking at your total subs, I predict there will be many more.
Thank you for your comment! I sure hope so too hahaha
I think regardless of Olympics being hosted here or not, the stadium wouldve been so much better for Hudson Yards because a stadium doesnt cost $25 billion to make. And the stadium couldve still been a architectural masterpiece as well.
Great video will definitely subscribe 👍 you deserve it
I appreciate it!
@@urbaninternationalcan you make a video about Frankfurt new Skyline
@@tarekbendjenni7037 Yes do you know of any projects specifically in Frankfurt that should be discussed?
@@urbaninternational the mellenium tower and the whole Skyline in general
I would think that the most expensive towers would be built in phase two with unobstructed views of the Hudson. The current buildings views will be ruined once towers to the west are built. One suspects that it will be decades before the second phase starts in order for current space in Hudson Yards to be fully absorbed and the rest of Manhattan for that matter. I would guess that by 2050 or 2060, will be the right time frame. I probably won't be around to see that.
Although I agree with the idea that Phase Two won’t begin til Phase One is fully absorbed, I just don’t think it will take that long. This is NYC we’re talking about, one of the most crowded and famous cities in the world. I’m sure the area will be fully absorbed by 2030 at the latest.
I remember back when that area was just a 2 story McDonalds. They should have just built a 3 story McDonalds.
I walked through the outdoor spaces and The Shops the other day (August 2023) and I have mixed feelings. I think that the buildings are gorgeous and I'd be happy to see stuff this pretty pop up all over the city. Old school NYC style is great (brownstones, Victorian) but lots of the city was built on the cheap and not maintained well ... replacing it with glass towers helps NY keep up with the times a bit. Shanghai will always be shinier, but adding modern touches to NY helps to keep it attractive.
But The Shops and Restaurants at Hudson Yards is kind of obscene and kind of a joke. The list of luxury brands on the first floor is close to a clone of Fifth Avenue stores that have a deep history (Cartier, Tiffany) yet the stores are all empty! Go up the escalators to floor 2 through 5 and it just gets depressing ... nothing noteworthy at all and you almost expect to see an old Sears or K-Mart with a "going out of business" sign. It's hard to say that NYC needed a new cluster of high-end shopping on the West edge of midtown, but if it did need it then this was certainly a failure.
I do hope that Phase 2 (the Western half) gets built and achieves its goals (e.g. affordable (ahem ...) housing). If more people who were not super-wealthy lived there, this might become more of a real neighborhood. And the engineering is pretty cool as well.
Love it here! The apartments are great and the sunsets at night are amazing.
You live at HY?? Very jealous...
@@urbaninternational It's pretty nice, but sometimes I crave something a bit more bucolic ;)
Not one mention of how they were supposed to build low income housing according to their contract and they haven't
Did you watch the video all the way through? This is discussed with regard to phase 2.
They did mention it early on in the building.
Excellent video. To answer your last question, the affordable housing will never be built, and was never intended to be built.
A sad truth
What do you think, was Hudson Yards a smart move? What should they change about this project?
I think it was a smart idea, they just wasted money.
@@user-ln5il4un3x @A Holloway Fair enough. Do you think they should've changed how much was allocated to office vs. residential?
@@urbaninternational No, the problem is attracting their targeted demographic. The top 0.5% is super frugal and won't even look twice at something like this due to being cash poor. Nearly 100% of their assets are in the stock market. If the stock market were to crash to 0 tomorrow people like Elon Musk and Warren Buffet would be worth $0 because they put 100% of their salary in stocks and live off of credit. That's why you see all these billionaires living a modest lifestyle. The top 0.5% has a mental issue and they're simply not going to spend the money. That's where Life Coaches and Lifestyle experts should come in and convince these super rich people to sell some of their stocks and live a little. they're hoarders who just want to be known as the richest man (person) on earth.
absolutely. NYC used to be the icon of modern arch and skyscrapers, but now China, Dubai have overtaken it. Thankfully this Developer took the risk to face lift aging Manhattan. Affordable housing in the middle of this is just a crazy idea, unrealistic.
@@user-ln5il4un3x Why do they put 100% of their salary in stocks? Like what is the point or advantage of doing that and living off credit?
Hudson Yards is a super luxury area that is mostly empty and had one of the worst timings of any major construction project since the Great Depression. It looks very nice but seems to be more than half empty. I wonder how many units are used by for money laundering like on Billionaire's Row a few blocks north... or maybe asking for their money bad due to a bad real estate investment.
Greed will be the downfall of humanity!
True
Changing.this.not.greed.stupidity.arogance.since.most.people.have.a.greed.for.something.
Great channel wish you all the success 👏🏼
Thank you! You too!
Another Chinese ghost city?
Sort of - but the Chinese ghost cities are on a whole different level - and at least the quality of the construction in Manhattan is far superior to the absolute garbage that passes for "new" in China. Maybe that will start to change as China starts focusing on the issue - maybe.
How did anyone not foresee the developers stalling the affordable housing part and force them to build those units first?
Oh wait...
would have been awesome if the Jets stadium could have been built there
Only thing I like about this is Mercado Little Spain. I have yet to try but they could put that anywhere.
Thank you for the update. Great video. I would be quick to assume that possibly the pandemic and general supply chain issues led to delays in the Western Yards. Either way, I'm optimistic that it'll get done, and hopefully in a way that serves the city very well.
Covid certainly didn't help the project development, will be interesting to see how things progress now that the covid situation isn't what it was 2 years ago
1. A railyard in Manhattan is necessary to handle people commuting into the city, although it is still considered an eyesore.
2. Under normal circumstances, a building would not be built on top of the railyard because it is more complicated and expensive to build a support structure over the yard.
3. Demand for new luxury apartments can be met by building new buildings. A support structure could be built to support the buildings if the developer was confident that they would be able to cover all of those additional costs. Only very expensive partners can justify this investment.
4. Wealthy New Yorkers who love the city will stay regardless if Hudson yards exists or not, they instead continue to live in their current luxury apartment which was built 10 years ago. This cycle causes the upper class to take up valuable middle and lower inventory, effectively pricing out the lower class.
Thank you video brilliant compliment
The algorithm shines its light upon you brother, bask in the radiance
I hope so! Hahaha
Whether people like it or not, Hudson Yards is, functionally, the spiritual successor to the old World Trade Center. A cohesive complex of expensive offices atop a mall and a uniform central plaza. Remember, before 9/11, the WTC was considered an eyesore by many, and people criticized it for displacing "Radio Row" to create a massive superblock. The new WTC did a better job at reconnecting the street grid and blending in with the surrounding neighborhood, but it doesn't have the same cohesive feeling like the old WTC did (and how Hudson Yards does now).
What if they built a town there for workers who could fill those offices? What's wrong with having a school and some grocery stores and some parks and delis on corners? It's such a joke as is, no one with big money wants to live in Nowhere Town. There is no prestige about this place. Dress up like a million bucks.....who's going to see you? There's nobody there. Eat at which plush place? Back to Soho.