5 OF THE LARGEST URBAN DEVELOPMENTS IN THE COUNTRY
July 25, 2016
Some of the nation’s largest urban mixed-use developments are close to completion—from The Related Cos’ Hudson Yards project to Riverside South in Manhattan. Take a look at Bisnow’s curated list of five top urban developments in the US.
The huge 28-acre urban development is two years away from being complete. Fit with five massive skyscrapers, office and retail space, Hudson Yards is valued at roughly $20B. The 20-acre project will be off the grid and will have the ability to generate most of its own power. The first tower, 10 Hudson, opened in May. The 52-story tower will house luxury handbag and accessories designer Coach. Several other big names, such as L’Oreal and Neiman Marcus, have committed to office leases.
Completed in 2009, this 67-acre city within a city is along the Las Vegas Strip in Paradise, NV. Known as one of the largest privately funded construction projects in the US, the $8.5B mixed-use project has 5,900 hotel rooms and 2,900 high-end condos. The project was spearheaded by destination resort developer MGM Mirage and investment firm Dubai World. The project’s central feature is its 150k SF Aria Resort & Casino.
This $3B urban development—formerly a 77-acre rail yard—was created in partnership with Donald Trump and several foreign investors. On the Upper West Side of Manhattan between 59th and 72nd streets, the project is mostly made up of condominiums, though it includes Trump Place apartments and the Riverside Center—a development still under construction on the southernmost portion of Riverside South that consists of housing, entertainment and retail.
Pacific Park Brooklyn (Atlantic Yards)
Formerly known as Atlantic Yards, this mixed-use development is made up of 17 high-rise buildings, including condominiums and 250k SF of retail. Valued at $5B, the 22-acre project is also home to Brooklyn’s most famous sports venue, Barclays Center. The arena opened to much fanfare Sept. 2012, before owners Forest City Ratner sold the sports arena, which was valued at $825M, along with its interest in the Brooklyn Nets, worth a total of $875M.
This man-made island, aka Claughton Islands, can be traced back to the late 1890s, when it was spearheaded by industrialist Henry Flagler. However, it wasn’t until 1940 that investor Edward Claughton acquired the off-shore property and developed it into a 44-acre, triangular-shaped urban development only a few hundred feet east of Downtown Miami.
The mixed-use development consists of several buildings—two condominium towers, the majority of which are condos—five hotels (including a Four Seasons, a Marriott and a Hyatt), and a 500k SF shopping center. The project is said to have $1B in overall economic impact.