With the 7 train extension set to see its first train at 34th Street and 11th Avenue next June, developers are rushing to line up financing and break ground on millions of square feet in new projects. The New York Times took a look over the weekend at the progress at Hudson Yards, but they buried some news deep within the story: at least one landowner—Silverstein Properties, which owns a 90,000-square foot site at 41st Street and 11th Avenue—wants zoning rules changed to allow it to build more housing and less office space.
For an area with poor transit links, the desire to shift from commercial to residential is not surprising. Though there will be a new subway station at 34th Street and 11th Avenue, successful office locations generally require not only transit, but redundant transit. Read More