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Major Investments

Developments

  • Hudson Yards | Manhattan | Ongoing
    • The first phase of the largest private real estate development in US history debuted on the Far West Side in March 2019, with office and residential space, extensive shopping and dining options, as well as a public plaza featuring Vessel, Equinox Hotel and The Shed. Soon to open is the observation deck, Edge. Further developments are to come with the project’s second phase, the Western Yard.
  • Seaport District NYC | Manhattan | Ongoing
    • The revitalized Seaport District NYC is home to culinary, fashion and entertainment including Pier 17, a 1.5-acre rooftop events venue with views of the skyline and waterfront. Upon completion, the project will total 400,000 square feet of new experiences.
  • Shirley Chisholm State Park | Brooklyn | Ongoing
    • The first section of the 407-acre Jamaica Bay park, dedicated to the first African American congresswoman, opened in July 2019 featuring a bayside pier, 10 miles of trails for hiking and biking and a free bike rental program. The second phase, including education facilities and a new entrance, is expected to be completed in 2021.
  • Javits Center | Manhattan | 2021
    • A $1.5 billion dollar expansion adding more than 1 million square feet of convention space is underway. When construction finishes, the center will include additional meeting rooms, a 500,000-square-foot exhibition hall, rooftop terrace and the largest ballroom in the Northeast.
  • Little Island | Manhattan | Spring 2021
    • The section of Hudson River Park in the Meatpacking District that will be transformed by this Thomas Heatherwick project adding public space with rolling hills, public art, walking paths and open lawn space.
  • Gansevoort Peninsula | Manhattan | 2022
    • The Meatpacking District will become home to Manhattan’s first public beach on a 5.5-acre peninsula off Hudson River Park.
  • Hudson River Park’s Pier 97 | Manhattan | Spring 2022
    • In September, construction will begin on the proposed reimagination of Hudson River Park’s northernmost concrete pier. The plans call for an elevated belvedere with river views, food concession, a playground, woodland walk and sunbathing lawn, together altering the Hell’s Kitchen recreational landscape.

Transportation

  • Moynihan Train Hall | Manhattan | 2020
    • Penn Station is expanding across the street to the historic James A. Farley Post Office building, where an additional entry from Ninth Avenue, nine new platforms and 17 new tracks for all Long Island Rail Road and Amtrak routes will open when the expansion of the busiest transportation hub in America is completed.
  • LaGuardia Airport | Queens | Ongoing
    • The airport is undergoing a $8 billion transformation to a single, structurally unified main terminal with better transportation access and first-class passenger amenities. The new eastern concourse at Terminal B opened in December 2018, with Air Canada, American Airlines, United Airlines and Southwest Airlines all operating out of the new gates. All renovations are slated to be completed in 2022.
  • Newark Liberty International Airport | NYC Tristate Area | Ongoing
    • A brand-new 1-million-square-foot terminal, roadway system and parking garage are among the developments included in a $2.4 billion investment program, which will partially open in 2020 prior to the project’s full completion in 2022.
  • John F. Kennedy International Airport | Queens | Ongoing
    • JFK is in the middle of an extensive $13 billion transformation to a unified, modernized airport including a new Terminal 8 developed by American Airlines and British Airways, a complete redesign of the airport’s roadways, expansion of parking lots and more by 2025.
  • Air Train Developments | NYC Area Airports | 2021–2024
    • The 1.5-mile-long AirTrain LaGuardia project, connecting the 7 train from Midtown Manhattan to the LIRR in Willets Point, will result in a journey under a half hour. The AirTrain at Newark Liberty Airport will also be rebuilt, along with allocation of funds to support AirTrain JFK operations.
  • Citi Bike | Citywide | Ongoing
    • The popular bike-share program will triple in size over the next five years, for a total of nearly 40,000 bicycles across all five boroughs.
  • Metropolitan Transportation Authority | Enhancements | Citywide | Ongoing
    • 14th Street Busway | Manhattan | October 2019
      An effort to reduce congestion and encourage sustainability, the implementation of 14th Street as a bus-only lane in late 2019 had by early 2020 resulted in travel time decrease of 9.7 minutes for public transit riders.
    • Capital Plan | Citywide | 2020–2024
      The MTA system removes 17 million metric tons of carbon emissions from the air annually. Adding to this success, 15 new zero-emissions buses were introduced in January as a pilot along the M60 select bus service route serving Harlem and Astoria. The MTA will purchase 500 electric buses over the next four years, with an all-electric fleet expected by 2040.
    • OMNY | Manhattan | 2020–2023
      The new fare pay system allows travelers to use contactless cards and mobile devices for full-fare, pay-per-ride trips from select stations. The 2/5 lines and the 6 in The Bronx joined the system in February, with an expansion to MTA-operated buses in Manhattan planned for March. MetroCard remains a current and future payment option until OMNY rollout completion in 2023.
  • NYC Ferry | Citywide | Ongoing
    • The ferry system now offers seven routes, with two more to Staten Island and Brooklyn’s Coney Island expected to open over the next two years. Now connecting to a total of 21 stops, the ferry costs the same as a one-way subway ticket ($2.75).
  • East Side Access | Queens/Manhattan | December 2022
    • One of the largest transportation infrastructure projects underway in the US will extend the Long Island Rail Road to Manhattan’s east side. The $10–$11 billion project will create additional transportation to and from Queens and Long Island, with a new eight-track terminal and concourse beneath Grand Central Terminal.
  • Empire Station Complex | Manhattan | TBD
    • In January 2020, Governor Cuomo announced additional plans to acquire the block south of Penn Station, undertaking the first expansion of the transportation hub’s foundational infrastructure since its completion in 1910, to add eight additional tracks and ultimately increase train capacity by an additional 40 percent.