Proposal would create 13 million sq.ft. of developable space. On March 26, 2008, the MTA Board selected Tishman Speyer’s proposal to develop the western and eastern portions of the John D. Caemmerer Rail Yard, also known as Hudson Yards. At $1.004 billion, Tishman outbid four competing real estate developers for the right to transform the 26-acre site despite proposing the smallest number of residential units and the least amount of open space.

Tishman’s proposal, designed … <Read More>