Amazon’s Tax Breaks and Incentives Were Big. Hudson Yards’ Are Bigger. (The New York Times)
The New York Times, March 9, 2019
Amazon’s Tax Breaks and Incentives Were Big. Hudson Yards’ Are Bigger.
At Hudson Yards, the expansive real estate development that is about to open in Manhattan, seven floors of retail are occupied by Fendi, Dior, Neiman Marcus and other high-end shops. Major corporations, including WarnerMedia and L’Oreal USA, will have their headquarters there. In the luxury residential buildings, one-bedroom apartments will rent for at least $5,200 a month — or you can buy a two-floor penthouse condo for $32 million. All thanks to the help of taxpayers….The area was rezoned, making room for towering buildings, and Mr. Bloomberg committed to the city to expanding the subway when the M.T.A. said it would not. ‘There wasn’t any genuine opposition to Hudson Yards at all,’ said Peter J. Kiernan, a lawyer who helped write a 2007 study on the city’s finance plan for the subway extension.”
References and links to 2007 report by the New York City Affairs Committee.
