(Save thedate: RealShareNew York comes to the Grand Hyatt, NewYork, NY, October 9.)

NEW YORK CITY-Construction on the third and final section of theHigh Line, an elevated park that has alreadyspurred development of hundreds of thousands of square feet ofcommercial space nearby, can begin later this year now that thecity owns the land. City officials said Tuesday that CSXTransportation Inc. had donated the rail yards section ofthe disused elevated railway, running between West 30th and West34th streets. The railroad had donated the High Line structuresouth of 30th Street in 2005.

“The High Line’s first two phases were groundbreaking and withthe development of the rail yards section, the trilogy will becomplete,” Parks & Recreation Commissioner Adrian Benepe saysin a statement. Since the first section of the redeveloped parkopened in 2009, Mayor Michael Bloomberg says in astatement, “the High Line has become a treasured neighborhoodoasis, a significant generator of economic activity for the entirecity and a celebrated icon for planners, designers and leadersaround the world.” An estimated eight million people, comprisedequally of New Yorkers and out-of-towners, have visited the parksince its opening, according to a release.