New York City’s Newest $15 Billion Skyscraper Is Now Being Built

New York City’s Newest $15 Billion Skyscraper Is Now Being Built
World
Like Us On Facebook
Like Us On Facebook

New York City has seen new skyscrapers popping up left and right, with the latest being the first tower in the Hudson Yards, a $15 billion skyscraper.

The 48-story $15 billion skyscraper, which is slated to be finished in 2015, had its groundbreaking ceremony on Tuesday.

The Metropolitan Transportation Authority, which owns the property, is leasing the land to developers for $1 billion.

skyscraper NYC

“This is the future of New York,” said Mayor Michael Bloomberg, a big proponent of the Hudson Yards project. 

The city rezoned 60 blocks to accommodate the project, approved $106 million in property tax exemptions and issued $3 billion in bonds to pay for an extension of the 7 train subway, which will go to the far West Side, all the way to 11th Ave.


The complete transformation of the Hudson Yards into a sprawling, lively, skyscraper-ridden new commercial district will take approximately 12 years.


The project entails the construction of an $800 million platform to cover the existing railroad tracks.

The new office tower in the works will not require that platform.

Skyscraper NYC

The Bloomberg administration was pushing to develop the area for years, and it was a focal point of their unsuccessful bid to host the 2012 Summer Olympics, which ended up in London.

Developer Stephen Ross, chairman of the privately-owned real estate giant Related Companies, compared the Hudson Yards project to the creation of the Empire State Building, Rockefeller Center, Lincoln Center and other iconic New York structures in the beginning of the twentieth century.

Mayor Bloomberg said that Tuesday’s groundbreaking of the $15 billion skyscraper shows that “we are moving forward” “even in this challenging economy.”


The project will create an estimated 23,000 construction jobs and space for more than 40,000 people to live or work, the mayor said.

James Gilbert | Elite.

Share Tweet
React
Like Us On Facebook
Like Us On Facebook

Julian Sonny

From the sandy beaches of Hawaii, to the streets of New York: Julian has seen it all. His lifetime of travels has given him a broad scope of knowledge and an eclectic taste unlike any other in the tri-state area. Julian has often been compared to cultural icon, The Rock, because of his unequivocal work ethic and warrior-like stature.

More In World

World Emily Arata

Grab Your Metal Detectors! Artist Hides $16,000 Worth Of Gold On The Beach For People To Find

Ready, set, treasure hunt. English artist Michael Sailstorfer buried $16,000 in gold bars along the Outer Harbour beach in Folkestone, England. He’s calling the installation “Folkestone Digs.” Beginning today, residents and visitors have the chance to claim the gold for themselves. There are no rules. The event coordinators have even buried dozens of metal washers in […]

Also On Elite

World

Frog Miraculously Escapes The Wrath Of A Hungry Snake On A Golf Course (Photos)

When golfers showed up on the 17th hole of South Gloucestershire’s Thornbury Golf Club in England, they discovered a battle ensuing. Amidst the tranquil environment of the golf course, two players found a 3-foot-long grass snake attempting to swallow a live frog. Grass snakes are the largest breed of their kind in England. Lindsey Henniker-Heaton, a […]

World

SharkCam Gets Amazing Footage When Great Whites Think It’s A Fish And Attack

Scientists from the Woods Hole Oceanographic Institution sent an autonomous camera underwater in Guadalupe, Mexico last November to track and film great white sharks. The footage was released about two weeks ago, and it seems that some sharks weren’t too keen on this fish-shaped object following them around. The REMUS, or SharkCam, typically just films sharks […]