NEW YORK CITY—MG Properties, the real estate investment anddevelopment arm of McCourt Global, has formed an equity anddevelopment partnership with Hines on the development of itsmixed-use project at 360 Tenth Ave. MG Properties and Hines haveselected SHoP Architects to design the high-profile project.

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The property was purchased from Sherwood Equities last year forapproximately $168 million. Immediately adjacent to HudsonYards at 31st Street on the Far West Side, 360Tenth Ave. is zoned for up to 733,406 square feet of total zoningfloor area.

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“We are very pleased to have the world class team at Hines joinus on 360 Tenth,” says Drew McCourt, president of MG Properties.“The addition of SHoP's creativity and innovation is a significantenhancement to the project as we look to blend the residential,retail, and commercial elements into an architecturally-significantaddition to the North Chelsea/Hudson Yards neighborhood.”

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Adds Tommy Craig, Hines' senior managing director for Hines' NewYork office,
“We are excited to partner with the McCourt team on 360 Tenth andwelcome the opportunity to expand our development work into theheart of Manhattan's fastest growing new neighborhood.”

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SHoP has been a creative force behind many notable projectsaround town in recent years, including: 111 West57th St.; 626 First Ave.; Gotham Gateway;the Domino Sugar Refinery and Barclays Center.

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"We are thrilled to be working with McCourt and Hines to designthis important new tower at the terminus of the High Line and thehinge between the Hudson River and Penn Station,” says VishaanChakrabarti, a partner at SHoP Architects. “We hope to create abuilding that evokes the best of historic Chelsea while making astrong contemporary addition to the skyline."

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Rayna Katz

Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.