Hudson Yards
The principals of BJH have worked on various aspects of the Hudson Yards redevelopment project since 2002.
In 2019 BJH completed an evaluation of the costs and benefits of the Hudson Yards redevelopment project. The report reviewed the City's goals in undertaking the project and provided a framework to evaluate its successes and challenges since approval of the rezoning of the district in 2005. Project costs (investments in infrastructure by the City of New York) were summarized and compared to revenues from new development in the district to date and looking forward. The report can be found here.
In 2017 BJH provided analysis of current and potential future development in the district as a sub-consultant to a national real estate firm for a feasibility study in support of the successful refinance of $2.1 billion of bonds issued by Hudson Yards Infrastructure Corporation. Services included demand analysis and tax and alternative revenue source estimation.
In 2015 BJH prepared a development analysis and revenue projection report of the district for an investment bank. The study included a survey of residential, hotel, office and retail buildings completed, in construction and planned in the district, and estimation of current and future real property tax revenues, PILOT payments, and zoning bonus payments.
