HUDSON YARDS PROJECT. G r e g K e l l y P r e s i d e n t a n d C E O, U. S., C e n t r a l a n d S o u t h A m e r i c a

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1 HUDSON YARDS PROJECT G r e g K e l l y P r e s i d e n t a n d C E O, U. S., C e n t r a l a n d S o u t h A m e r i c a

2 G R O W T H V S. O T H E R U. S. C I T I E S NEW YORK GREW TO BECOME A WORLD CAPITAL 175 City Population Today New York City 60,515 3,802,000 8,405,837 Philadelphia 41,220 1,293,697 1,526,006 Boston 24, , ,824 Baltimore 26, , ,961

future generation of New Yorkers and the inevitable growth of the city will require.

3 H O W W E G O T T H E R E LEGACY OF TRANSPORTATION INVESTMENT 176 The railroad is not expected to be all that New York City should have, but it is hoped to be but a beginning of a comprehensive, engineered system such as the future generation of New Yorkers and the inevitable growth of the city will require. Robert Moses Fiorello LaGuardia General Parsons General William Barclay Parsons The Port Erie Canal Subway Airports Toll Roads

4 D E V E L O P M E N T H A S E V O L V E D B Y N E I G H B O R H O O D THE WEST SIDE STORY 177

5 D E V E L O P M E N T - M I D T O W N WEST SIDE STORY 178

6 D E V E L O P M E N T E A S T S I D E WEST SIDE STORY 179

7 D E V E L O P M E N T W E S T S I D E WEST SIDE STORY 180

8 W E S T S I D E S T O R Y 181 ECONOMIC COMPARISONS Far West Side lags behind the rest of Manhattan across a range of indicators: Low residential Low commercial More low end uses Measures HY/CC area Rest of Manhattan Residential density (units per acre) Commercial office density (commercial sq. ft. per acre) Retail space density (retail sq. ft. per acre) Garage/storage space density (sq. ft. per acre) ,953 31, ,757 4,707

9 W E S T S I D E S T O R Y ROOT CAUSE POOR TRANSPORTATION 182 Existing facilities and routes do not provide adequate transit service to support Far West Side redevelopment 10 min walk 34 th Street Penn Station Area west of Tenth Avenue is too far from the majority of transit services

10 W E S T S I D E S T O R Y EARLY INITIATIVES 1970s 183 Failed to stimulate development as the transportation deficiency was not addressed

11 T H E V I S I O N 1990 S CITY PLANNING INITIATIVE 184 The Far West Side is the next frontier for development in Manhattan If Midtown West captures its historic share of projected development, 45 million square feet of office space will be needed by 2025 New high end office space for creative technology and communications entrepreneurs needs a dense urban environment, mass transit

12 A C T I O N P L A N F O R F A R W E S T S I D E CITY PLANNING INITIATIVE OUR EARLY ENGAGEMENT 185 Provide Mass Transit Access Rezoning to achieve higher density Create a West Side destination (Stadium) Innovative financial model

13 A C T I O N P L A N F O R F A R W E S T S I D E 186 AT THE FOREFRONT OF PLANNING AND ENGINEERING Extend a subway line to the West Side Rezone the neighborhood Value Capture development to fund the Investment Allows for more than 40 million square feet of mixed-used development 24 million square feet of Class A office development 13,500 new apartments

14 T H E S U B W AY L I N K A G E 187 OUR ROLE AS TRANSPORTATION PLANNERS 7,000 foot tunnel extension Two subway stops (10 th Ave and W 34 th Street Station) Extension to 26 th Street

15 E N G I N E E R I N G C H A L L E N G E S EXTENDING THE SUBWAY 188

16 E N G I N E E R I N G C H A L L E N G E S EXTENDING THE SUBWAY 189 Jacob Javits Expansion 34 th Street 7 Exit Tunnel NYCDEP 3 rd Water Tunnel 7 Entrance Tunnel A Series of Firsts First NYC TIF Transit Project ($2.4B) Underpinned Investment Analysis for Prospective Investors Transit Oriented Development Transit Facilities Integrated into High Rise Commercial Development Engineering Feats as Lead Designer Tunnel threaded through NYC s most dense infrastructure development Manhattan s first subway expansion completed in nearly 80 years Inclined elevators to save cost 21 st century train control Innovative application of construction technologies such as ground freezing

17 E N G I N E E R I N G C H A L L E N G E S EXTENDING THE SUBWAY Ground Freezing 190 CASING PIPE INSULATION/ HEAT TRACKING FREEZE ZONE TOP OF ROCK CONCEPTUAL CROSS SECTION

18 ENGINEERING CHALLENGES 34TH STREET STATION 191

19 T H E L A N D U S E P L A N CITY PLANNING ACTIONS 42 nd Street 192 Area of Proposed Action Proposed No. 7 Subway Alignment Proposed No. 7 Subway Stations Potential Future East- West Connector 34 th Street Residential Mixed-Use Commercial

20 N O. 7 L I N E E X T E N S I O N A N D B U I L D - O U T 193

21 D E V E L O P M E N T U N D E R W AY HELPING CREATE THE NEW NEIGHBORHOOD 194

22 O U R F O O T P R I N T THE BUILD-OUT 195

23 E N G I N E E R I N G C H A L L E N G E S 196 THE BUILD-OUT MEP and Structural Engineering Collaboration: Building over the Number 7 Subway line Coordination of MTA codes and requirements No basement level presented issues for the building s utility systems and fuel oil storage Placement of structural loads over the subway system line

24 21 ST C E N T U R Y L I V I N G A N D W O R K I N G THE BUILD-OUT West 22 nd Street Client: Albanese Organization Architect: Cook + Fox Architects Size: 175,000 sf commercial/retail building along the High Line park designed to LEED Platinum standards. Completion: West 41 st Street Client: Silverstein Properties Architect: Renzo Piano Design Workshop Size: 1,700,000 sf, 1,400 unit residential rental towers pursuing LEED certification Completion: On-going

25 M A X I M I Z I N G P U B L I C L A N D S CITY PLANNING OPEN SPACE PLAN 198

26 H U D S O N PA R K A N D B O U L E VA R D OUR CONTINUED ENGAGEMENT Mid block boulevard 199

27 F E E S E A R N E D THE WEST SIDE S CONTRIBUTION TO GROWTH 200 Project Fee No. 7 Line Extension $150M 217 West 57 th Street $2.7 M Mid-Block Boulevard $2.1 M West 57 th Street $1.8 M Hudson Yards Tower D $1.5 M 55 Hudson Yards 49 Story Office Building $1.5M th Ave $0.5M 3 Hudson Boulevard $0.4M 338 West 36 th Street $0.2M Total $160M

28 P I P E L I N E FUTURE WEST SIDE OPPORTUNITIES 201 Project 10 th Ave Station Subway Extension Future Buildings Gateway Port Authority Bus Terminal Mid-Block Boulevard High Line Optimization

29 G R O W T H V S. O T H E R C I T I E S NEW YORK AS A WORLD CAPITAL Today % increase New York City 60,515 3,802,000 8,405,837 13,790% The Giant Vortex, The City of Firsts First: Multi-Modal Transportation Sky Scraper Department Stores

30 QUESTION PERIOD

31 THANK YOU

For Sale - $11,000,000 - Negotiable Excellent User Opportunity -

4770 White Plains Road Bronx, New York For Sale - $11,000,000 - Negotiable Excellent User Opportunity - Jerry Houlihan GHP Office Realty One West Red Oak Lane White Plains, New York 10604 Phone: 914.642.9300