Financing NYC's Hudson Yards
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.
, Volcker Alliance
, New York
Confirmed SpeakerWilliam Glasgall joined the Volcker Alliance in 2014 as Director of the Alliance’s State and Local programs. Previously, he was Managing Editor at Bloomberg News, overseeing coverage of state and local government and financial news that won numerous awards from the National Press Club Foundation and other organizations. His career also includes almost two decades at BusinessWeek Magazine, where he won two Overseas Press Club Awards for international reporting, and as a Vice-President at Standard & Poor’s and Editorial Director of the Investment Advisor Group. Mr. Glasgall is a Governor of the Overseas Press Club Foundation, Senior Adviser to the Ravitch Fiscal Reporting Program at the City University of New York, and a member of the Lincoln Institute for Land Policy's Municipal Fiscal Health Working Group. He has also served as a member of the Board of Overseers of the Knight-Bagehot Fellowship Program in Economics and Business Journalism at Columbia University, where he was also a fellow. He is a graduate of Boston University and lives in New Jersey.
, Lincoln Institute of Land Policy
, New York
, NYC Department of City Planning
, New York