Hudson Yards Project

Hudson Yards Project

The Hudson Yards project is one of the most exciting real estate development project not only in the country; but I would say in the world. Spanning over 28 acres around Chelsea and Hudson Yards, the project would consist of 16 sites. The first phase actually opened last year and I am happy to report that I did visit the site. There was a huge green space there which is very pedestrian friendly. Also some buildings have already opened up.

“When Hudson Yards is completed, an estimated 125,000 people daily are expected to live, work, dine, shop, study, stroll or sightsee at this 28-acre neighborhood, which will include 14 acres of public open space, a public school and the Western Hemisphere’s highest outdoor observation deck, among its many commercial and residential buildings” (Hudson Yards New York). The second phase is expected to be completed by sometime in 2024. Hopefully, I can review this exciting on-going project even then.  

A picture of the project (Image Credits: NY.Curbed)

Impact of COVID-19 Pandemic on US Infrastructure- Part 4

Impact of COVID-19 Pandemic on US Infrastructure- Part 4

In this series of blog articles, I continue my coverage of the impact of the COVID pandemic on US infrastructure. We can say in complete certainty that the economic impact of the pandemic, when measured, would be unprecedented. Though most states have reopened (and some of them have scaled back as well), its impact on infrastructure can’t be gauged quickly. Rather, a more systematic and comprehensive review of existing conditions and a plan to upgrade it must be sough out through experts. 

“One can expect that infrastructure financing will take a downward plunge in the short to medium term. However, once the pandemic is successfully contained, the focus will need to shift from crisis management to assisting to adequately invest in infrastructure for development, as well as preventing and mitigating the impact of future outbreaks contractually” (Deloitte).

A picture of the ASCE Logo; the ASCE is expected to play a big role in infrastructure financing in the near future (Image Credits: McKinley Advisors)