After a collapse of talks with Tishman Speyer Properties two weeks ago, the Metropolitan Transportation Authority found another party eager to develop Hudson Yards: Related Companies, NYTimes reported.
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The billion-dollar deal signed this week envisages developing 12 million square feet of office towers, apartment buildings and parks.
At the project's completion, the area between 10th avenue and the West Side Highway, 30th and 33th streets, known as Hudson Yards, will contain about 5.5 million square feet of commercial space, including a hotel and about 5,500 apartments, as well as a park and a cultural center.
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