Norman Foster’s 78-story office tower opens in Hudson Yards "A boutique luxury office building designed by Norman Foster officially opened in Hudson Yards this week. Described as “multiple buildings within a building,” 50 Hudson Yards is a 1,011-foot-tall tower that takes up a full block between Hudson Boulevard and 10th Avenue, between 33rd and 34th Streets. Developed by Related Companies, Oxford Properties, and Mitsui Fudosan America, 50 Hudson Yards is already over 84 percent leased, with Meta and BlackRock as two of the tower’s anchor tenants." (6sqft)
Caesars and developer SL Green pitch Times Square casino plan "Developer SL Green Realty is working with casino operator Caesars Entertainment on a bid to bring a casino to New York’s Times Square, the companies announced Thursday....The partners said the proposed project would redevelop Times Square building 1515 Broadway into Caesars Palace Times Square, which will include a Broadway theater that will be home to 'The Lion King' and other entertainment attractions." (CNBC)
Construction Spending Strong in NYC, But City Still Lacks New Housing "The spending will include 30,000 units of housing set to come online by 2025 — on top of the 71.5 million square feet of residential units being built this year alone — but the supply is not outpacing demand, according to the Building Congress." (Commercial Observer)
Overcharged for your rent in a NY regulated building? There’s a backlog of 3,400 complaints. "For years, the state’s Division of Homes and Community Renewal has struggled to keep pace with tenant complaints amid bureaucratic red tape, dated computer operating systems and a dwindling workforce. But New York’s rent overhauls in June 2019 and the COVID-19 pandemic that followed months after exacerbated long-standing issues at the agency as it contends with a wave of staff retirements and attrition, tenant lawyers and elected officials said." (Gothamist)
A Housing Crisis Has More Politicians Saying Yes to Developers "Lawmakers on the left are fierce critics of the real estate industry. But some are embracing new housing development, even if it’s not fully affordable." (New York Times)
13 Years, 3 Mayors, Countless Community Board Meetings, and Just One Building "The tortured path to 112 affordable apartment units in Hell’s Kitchen." (Curbed)
