Hudson Yards (development)
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Hudson Yards (development)
Hudson Yards is a real estate development in the Hudson Yards area of Manhattan, New York City, between the Chelsea and Hell's Kitchen neighborhoods. Upon completion, 13 of the 16 planned structures on the West Side of Midtown South would sit on a platform built over the West Side Yard, a storage yard for Long Island Rail Road trains. The first of its two phases, opened in 2019, comprises a public green space and eight structures that contain residences, a hotel, office buildings, a mall, and a cultural facility. The second phase, on which construction had not started , will include residential space, an office building, and a school. Related Companies and Oxford Properties are the primary developers and major equity partners in the project. Related, Oxford, and other large investors have funded Hudson Yards' construction from several capital sources, including from foreign investors through the EB-5 investment program. Mitsui Fudosan owns a 92.09 percent stake in 55 Hudson ...
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West Side Yard
The West Side Yard (officially the John D. Caemmerer West Side Yard) is a rail yard of 30 tracks owned by the Metropolitan Transportation Authority on the west side of Manhattan in New York City. Used to store commuter rail trains operated by the subsidiary Long Island Rail Road, the yard sits between West 30th Street, West 33rd Street, 10th Avenue and 12th Avenue. The yard includes storage tracks, a six-track indoor shop for light maintenance, a 12-car long platform for car cleaning, and lockers and a break room for employees. The yard sits at the north end of the High Line, a former elevated freight railroad converted into a park, and south of the truck marshalling yard used by the Jacob K. Javits Convention Center. It also sits above the 34th Street–Hudson Yards subway station, which opened in 2015. Before the yard opened in 1987, rush-hour trains to or from Penn Station had to run without passengers to storage yards on Long Island, where the trains were stored during ...
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Chelsea, Manhattan
Chelsea is a neighborhood on the West Side of the borough of Manhattan in New York City. The area's boundaries are roughly 14th Street to the south, the Hudson River and West Street to the west, and Sixth Avenue to the east, with its northern boundary variously described as near the upper 20sRegier, Hilda. "Chelsea (i)" in , pp.234-235 or 34th Street, the next major crosstown street to the north.Navarro, Mireya"In Chelsea, a Great Wealth Divide", ''The New York Times'', October 23, 2015. Accessed October 23, 2015. "Today's Chelsea, the swath west of Sixth Avenue between 14th and 34th Streets, could be the poster neighborhood for what Mayor Bill de Blasio calls the tale of two cities." To the northwest of Chelsea is the neighborhood of Hell's Kitchen, as well as Hudson Yards; to the northeast are the Garment District and the remainder of Midtown South; to the east are NoMad and the Flatiron District; to the southwest is the Meatpacking District; and to the south and southeast ...
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Sidewalk Labs
Sidewalk Labs is an urban planning and infrastructure subsidiary of Google. Its stated goal is to improve urban infrastructure through technological solutions, and tackle issues such as cost of living, efficient transportation and energy usage. The company was headed by Daniel L. Doctoroff, former Deputy Mayor of New York City for economic development and former chief executive of Bloomberg L.P. until 2021. Other notable employees include Craig Nevill-Manning, co-founder of Google's New York office and inventor of Froogle, and Rohit Aggarwala, who served as chief policy officer of the company and is now Commissioner of New York City Department of Environmental Protection. It was originally part of Alphabet Inc., Google's parent company, before being absorbed into Google in 2021 following Doctoroff's departure from the company due to a suspected ALS diagnosis. Projects Sidewalk Toronto In April 2016, ''The Information'' reported that Sidewalk intended to create a new ...
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Boston Consulting Group
Boston Consulting Group, Inc. (BCG) is an American global management consulting firm founded in 1963 and headquartered in Boston, Massachusetts. It is one of the Big Three (or MBB, the world’s three largest management consulting firms by revenue) along with Bain & Company and McKinsey & Company. Since 2021, the consultancy has been led by the German executive Christoph Schweizer. History The firm was founded in 1963 part of The Boston Safe Deposit and Trust Company. Henderson had been recruited from Arthur D. Little to establish the consulting arm operating as a subsidiary under the name Management and Consulting Division of the Boston Safe Deposit and Trust Company. Initially the division only advised clients of the bank, with billings for the first month at just US$500. Henderson hired his second consultant, Arthur P. Contas, in December 1963. In 1966, BCG opened its second office in Tokyo, Japan. In 1967, Henderson met Bill Bain and offered him a role at the firm. Bai ...
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Diller Scofidio + Renfro
Diller Scofidio + Renfro is an American interdisciplinary design studio that integrates architecture, the visual arts, and the performing arts. Based in New York City, Diller Scofidio + Renfro is led by four partners – Elizabeth Diller, Ricardo Scofidio, Charles Renfro, and Benjamin Gilmartin – who work with a staff of architects, artists, designers, and researchers. Biography The studio was founded by Elizabeth Diller and Ricardo Scofidio in 1981; Charles Renfro joined in 1997 and became partner in 2004. Benjamin Gilmartin became a partner in 2015. Elizabeth Diller attended The Cooper Union School of Art and received a Bachelor of Architecture degree from the Cooper Union School of Architecture. She is a Professor of Architecture at Princeton University School of Architecture and a visiting professor at the Bartlett School of Architecture. In 2009, Diller was selected by ''Time'' magazine as one of the "100 Most Influential People in the World". Ricardo Scofidio attended The ...
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Skidmore, Owings, And Merrill
Skidmore, Owings & Merrill (SOM) is an American architectural, urban planning and engineering firm. It was founded in 1936 by Louis Skidmore and Nathaniel Owings in Chicago, Illinois. In 1939, they were joined by engineer John Merrill. The firm opened its second office, in New York City, in 1937 and has since expanded internationally, with offices in San Francisco, Los Angeles, Washington, D.C., London, Melbourne, Hong Kong, Shanghai, Seattle, and Dubai. With a portfolio spanning thousands of projects across 50 countries, SOM is one of the most significant architectural firms in the world. The firm's notable current work includes the new headquarters for The Walt Disney Company, the global headquarters for Citigroup, Moynihan Train Hall and the expanded Penn Station complex, and the restoration and renovation of the Waldorf Astoria in New York City; airport projects at O’Hare International Airport, Kansas City International Airport, and Kempegowda International Airport; ...
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Kohn Pedersen Fox
Kohn Pedersen Fox Associates (KPF) is an American architecture firm that provides architecture, interior, programming and master planning services for clients in both the public and private sectors. KPF is one of the largest architecture firms in New York City, where it is headquartered. History Beginnings in the United States (1976–1980s) KPF was founded in 1976 by A. Eugene Kohn, William Pedersen, and Sheldon Fox, all of whom coordinated their departure from John Carl Warnecke & Associates, among the largest architectural firms in the country. Shortly thereafter, the American Broadcasting Company (ABC) chose KPF to redevelop a former armory building on Manhattan’s West Side to house TV studios and offices. This led to 14 more projects for ABC over the next 11 years, as well as commissions from major corporations across the country, including AT&T and Hercules Incorporated. By the mid-1980s, KPF had nearly 250 architects working on projects in cities throughout the United ...
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Mitsui Fudosan
is a major real estate developer in Japan. Mitsui Fudosan is one of the core companies of Mitsui Group. Corporate structure The company is organized into four divisions. *Office Building Division *Real Estate Solution Services Division *Accommodation Business Division *Retail Properties Division Major projects *In Tokyo, Mitsui undertook a major redevelopment project in the Nihonbashi district, where group founder Takatoshi Mitsui had his kimono shop during the 17th century. Mitsui also developed the "Gran Tokyo North Tower" office building at Tokyo Station. *In New York City, Mitsui's first major project was the 2.3 million square foot Exxon Building (1251 Avenue of the Americas), which it acquired in the 1980s. It subsequently engaged in several other projects in the city together with local partners. It has announced plans to invest up to $1.25 billion in the 51-story 50 Hudson Yards tower as part of the Hudson Yards Redevelopment Project, which would be the largest overs ...
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EB-5 Visa
The United States EB-5 visa, ''employment-based fifth preference category'' or ''EB-5 Immigrant Investor Visa Program'', created in 1990 by the Immigration Act of 1990, provides a method for eligible Immigrant investor programs, immigrant investors to become Permanent residence (United States), lawful permanent residents—informally known as "green card" holders—by investing substantial capital to finance a business in the United States that will employ at least 10 American workers. Based on the EB‐5 Reform and Integrity Act of 2022, which was signed into law on March 15, 2022, the minimum investment requirement to qualify under the EB-5 program is $1,050,000. The investment requirement is reduced to $800,000, however, if the investment is made in a qualifying infrastructure project or targeted employment area (TEA). Most immigrant investors who use the EB-5 program invest in a Targeted Employment Area, targeted employment area (TEA)—a rural area or area with high unemploym ...
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Financial Capital
Financial capital (also simply known as capital or equity in finance, accounting and economics) is any economic resource measured in terms of money used by entrepreneurs and businesses to buy what they need to make their products or to provide their services to the sector of the economy upon which their operation is based, ''e.g.'', retail, corporate, investment banking, etc. In other words, financial capital is internal retained earnings generated by the entity or funds provided by lenders (and investors) to businesses in order to purchase real capital equipment or services for producing new goods and/or services. In contrast, real capital (or economic capital) comprises physical goods that assist in the production of other goods and services, e.g. shovels for gravediggers, sewing machines for tailors, or machinery and tooling for factories. IFRS concepts of capital maintenance ''Financial capital'' generally refers to saved-up financial wealth, especially that used in or ...
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Long Island Rail Road
The Long Island Rail Road , often abbreviated as the LIRR, is a commuter rail system in the southeastern part of the U.S. state of New York (state), New York, stretching from Manhattan to the eastern tip of Suffolk County, New York, Suffolk County on Long Island. With an average weekday ridership of 354,800 passengers in 2016, it is the List of United States commuter rail systems by ridership, busiest commuter railroad in North America. It is also one of the world's few commuter systems that runs 24/7 year-round. It is Government-owned corporation, publicly owned by the Metropolitan Transportation Authority, which refers to it as MTA Long Island Rail Road. In , the system had a ridership of , or about per weekday as of . The LIRR logo combines the circular MTA logo with the text ''Long Island Rail Road'', and appears on the sides of trains. The LIRR is one of two commuter rail systems owned by the MTA, the other being the Metro-North Railroad in the northern suburbs of the New ...
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