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Article: Another developer chosen for New York's West Side railyards
- Article from:
- AP Worldstream
- Article date:
- May 19, 2008
- Author:
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A week after one deal collapsed, city officials announced Monday that another developer has been chosen to build a new commercial and residential center over a stretch of forlorn railyards near the Hudson River.
Related Cos. and its financial partner Goldman Sachs have tentatively agreed to a billion-dollar deal to develop 26 acres (10.52 hectares) of prime real estate on Manhattan's Far West Side.
Last week, Tishman Speyer Properties backed out of a deal that would have given the company a 99-year lease for the railyards on either side of 11th Avenue between 30th and 33rd streets, which are owned by the Metropolitan Transportation Authority.
The MTA will hold a ...