Council Okays Hudson Yards Rezoning

NEW YORK CITY-Although the City Council voted Monday to scrap one Related Cos. project–the redevelopment of Kingsbridge Armory in the Bronx–it cleared the way for another one to proceed. The council approved rezoning of the Western Rail Yard, the remaining half of the 26-acre Hudson Yards site, with some technical modifications that need the okay of the City Planning Commission.

A Related spokeswoman tells GlobeSt.com that following the CPC’s signoff on the changes, the rezoning will come back before the full council on Monday. In a statement, Jay Cross, president of Related Hudson Yards, says next week’s anticipated approval, coupled with the 2005 rezoning of the Eastern Rail Yard, “will allow for the creation of a unique 26-acre sustainable mixed-use development in a dynamic neighborhood overlooking the Hudson River, including over 10 acres of public open space linking the new Hudson Boulevard to the High Line and Hudson River Park, cultural amenities, a new public school and housing opportunities for all New Yorkers.”

Prior to Monday’s vote, Related and the Bloomberg administration agreed to add more affordable housing units to the project. Fine-hundred-and-fifty-one existing apartments that are owned by Related, or that will be acquired by the city, in the area surrounding the yards will remain affordable. In addition, Related and the Bloomberg administration had previously pledged to build a total of 743 new units at below-market-rate rents.

The timetable for this and other construction on Hudson Yards is not yet clear. Related is scheduled to reach a final deal with the Metropolitan Transportation Authority, which owns the rail yards, by next month. Build-out of the $15-billion mixed-use project, which will include office and retail components along with housing and public space, reportedly will get under way soon after completion of the Number 7 subway line extension, now projected for 2013.