Of all the things that could jolt us out of a pre-holiday fog, we never thought one of them would be the West Side Rail Yards. But the Journal's Eliot Brown reports the news that developer Related Companies is beginning work on the first Hudson Yards tower, a 1.4 million-square-foot building that will include 1 million square feet of office space and 25 floors of luxury condos. So it's just like the Time Warner Center, except for what's outside: a still completely nonexistent megaproject. The lonely 800-foot building?maybe it can send Ohm smoke signals?will take over the site of a soon-to-be-demolished former metal products distribution center. It's the only building in the rail yards project that would stand on firm ground, rather than on the platform Related still has to build over the tracks. Even without firm office tenant commitments, Related has an incentive to get started: with the office market availability rate inching closer to the 11 percent trigger, the developer's about to face some impressive rent bills from the MTA.
· Related Steps Up Work on West Side Rail Yard [WSJ]
· Hudson Yards coverage [Curbed]