- A deal between Mayor Eric Adams and Related/Oxford boosts the number of permanently affordable units in Hudson Yards West to 625—up nearly 50% from the previous 420.
- The broader second phase will include up to 4K total housing units, a school, daycare, and over six acres of public space.
- Though the affordable unit count has risen, the total residential figure still falls short of the 5,800 units promised in the original 2009 rezoning.
- The agreement clears a key hurdle for Related’s long-delayed second phase and supports public-private financing for the $2B platform over the rail yards.
A Step Forward
After years of delays, the Western Rail Yards portion of Hudson Yards is back on track, as reported by Bisnow. On June 11, Mayor Eric Adams announced a tentative deal with Related Cos. and Oxford Properties that raises the affordable housing component of the project—an effort to make good on earlier commitments and address New York City’s housing shortage.
What’s Changing
The updated plan will deliver 625 permanently affordable units to Hudson Yards, a nearly 50% increase from the previous 420. Additionally, 139 off-site units will be preserved as affordable. The full buildout could include 4K housing units across two towers—combining market-rate condos, rentals, and affordable homes.
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More Than Just Housing
As part of the agreement, Related will also construct a 750-seat school, 6.6 acres of public open space, and a daycare facility. In exchange, the city will support the costly $2B deck construction over the active rail yards using future tax revenues, enabling vertical development on the site.
Context And Tradeoffs
The 4K-unit plan adds momentum but falls short of the 5,800 units Related committed to in the 2009 rezoning. Wynn Resorts dropped its 2.7M SF Hudson Yards casino and hotel plan after strong community opposition to the entertainment-focused proposal.
Looking Ahead
Hudson Yards West still requires approvals from the New York City Council, Industrial Development Agency, and Hudson Yards Infrastructure Corp. In the meantime, Related is pushing forward with 70 Hudson Yards, the largest office tower to break ground nationally since the pandemic.
Why It Matters
The revised deal reflects a broader effort to make New York’s largest private real estate development more inclusive—and viable. Affordable housing drives heated city land use debates; this deal shows how private investment can deliver real public benefits.
