Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-Construction on the 26-acre Hudson Yards development on Manhattan’s Far West Side formally launched Tuesday morning with a groundbreaking for what will be the south tower—a 47-story office tower that will serve as the new headquarters of Coach Inc. Tuesday’s ceremony, which culminated in the drilling of caissons that will anchor the tower, comes after the Metropolitan Transportation Authority’s board approved an amended contract with the Related Cos. that commits the developer to close on its 99-year ground lease by June 1, 2013.

Noting that the city’s history has been defined by moments in which the seemingly unachievable—such as the Empire State Building and the Pennsylvania Railroad’s trans-Hudson tunnels—was conceived and brought to fruition, Related Cos. chairman Stephen Ross commented, “Today is our moment, our position in history. Today we formally begin construction of one of the most ambitious projects in history.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.