Jump to content
House Price Crash Forum
Sign in to follow this  
prozac

Hudson Yards is the $25 billion mega-project critics love to hate

Recommended Posts

https://www.citylab.com/equity/2019/04/hudson-yards-financing-eb5-investor-visa-program-immigration/586897/

940.jpg?mod=1555078787

 

Since its official unveiling last month, critics have been teeing off on Hudson Yards, the $25 billion office-and-apartment megaproject on Manhattan’s West Side. The Guardian’s Oliver Wainwright calls it “bargain-basement building-by-the-yard stuff that would feel more at home in the second-tier city of a developing economy.” In Curbed, Alexandra Lange writes that it suffers from “no contrast. No weirdness, no wildness, nothing off book.” The New York Times’ Michael Kimmelman describes it as a “vast neoliberal Zion.”

“New York politics and real estate are notoriously akin to Rashomon,” reads Kimmelman’s review. “Any verdict on an undertaking as costly and complex as Hudson Yards depends on one’s perspective.”

Views abound, sure, but so far, nobody seems to like what they see when they look at Hudson Yards. The project has managed to do something unique: unite all New Yorkers in a vernal equinox of acid contempt. Early reviews offer a litany of contrasts, with the development’s garish geometry and dull placelessness earning rebuke in equal measure. That’s before considering how certain features, particularly Thomas Heatherwick’s oft-derided shawarma-shaped bucket, square with other projects as “bellwethers pointing to exactly where our cities are going awry.”

 

However, among all the many reasons to feel salty about Hudson Yards, one perspective may deserve a place of privilege: the view from Harlem. Without their knowledge, the residents of a number of public housing developments helped to make Hudson Yards possible. The mega-luxury of this mini-Dubai was financed in part through a program that was supposed to help alleviate urban poverty. Hudson Yards ate Harlem’s lunch.

Specifically, the project raised at least $1.2 billion of its financing through a controversial investor visa program known as EB-5. This program enables immigrants to secure visas in exchange for real estate investments. Foreigners who pump between $500,000 and $1 million into U.S. real estate projects can purchase visas for their families, making it a favorite for wealthy families abroad, namely in China. EB-5 is supposed to be a way to jumpstart investment in remote rural areas, or distressed urban ones. 

 

Share this post


Link to post
Share on other sites

https://www.theguardian.com/artanddesign/2019/apr/09/hudson-yards-new-york-25bn-architectural-fiasco

3088.jpg?width=1920&quality=85&auto=form

 

It is a billionaires’ playground where haircuts cost $800 and high-rise duplexes go for $32m. So why do the angular towers of Hudson Yards look so cheap?

One thing that’s always been true in New York,” says Dan Doctoroff, “is that if you build it, they will come.” He is referring to Hudson Yards, the $25bn, 28-acre, mega-project that he had a critical hand in originating while he was deputy mayor of the city under Michael Bloomberg in the early 2000s. He can now look down on his co-creation every day from his new office in one of the development’s towers and see hundreds of people climbing up and down Thomas Heatherwick’s Vessel sculpture, like tiny maggots crawling all over a rotting doner kebab.

 

 

Share this post


Link to post
Share on other sites

Years ago, i looked at NY. Was thinking of taking up an offer.

I looked at the fommute times and whatnot.

I really liked the idea of living way out on long island and training in.

Then looked at boating it over to NJ.

Then looked at up state - buffalo or somewhere.

Then i did nit go.

 

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 294 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.