Financing NYC's Hudson Yards

Sunday, May 7, 2017 | 4 p.m. - 5:15 p.m.
CM | 1.25
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You’ll learn about:

  • How to finance and plan a major urban redevelopment project
  • How municipal officials work across government agencies and departments when financing highly complex projects
  • How land-based financing tools and capital markets fund large-scale projects
  • The important role of zoning rights and urban planners 

New York’s multi-billion-dollar Hudson Yards infrastructure project began nearly a decade ago with a vision. The project will transform a large section New York while standing as a global example of emerging innovations in large-scale transportation infrastructure finance. The project is being carried out by the Hudson Yards Infrastructure Corporation (HYIC), a local development corporation created under New York state nonprofit laws. HYIC’s specific mandate was to extend the Number 7 train line as part of the redevelopment of a 45-square-block area designated as a special project financing district. The project hopes to spur much-needed residential and commercial development on Manhattan’s far west side and provide new and diverse pools of supporting capital. 

Gain an overview into the most innovative aspects of the project’s financing, including zoning rights considerations that supported the capital-raising strategy. Also examine the municipal securities that, when combined with other instruments, created a deal structure that met the timeline set by the urban planning and economic development teams and others involved in the  planning and design phases. Finally, explore strategic considerations after the project was activated that are relevant to planners, including rezoning. 

Speakers

William Glasgall , Volcker Alliance , New York , NY (see bio)
Lourdes German , Lincoln Institute of Land Policy , Cambridge , MA (see bio)
Bridget Fisher , New York , NY
Eric Kober , NYC Department of City Planning , New York , NY