If you've been paying attention to the last decade of NYC development, you're aware that Hudson Yards has moved a helluva lot slower than anticipated. As such, the west side megaproject has been something of a money-suck for the city?it was supposed to start paying for itself by 2008. It's 2013 and only one office tower is rising. Hudson Yards was supposed to generate $283 million in 2012, and it only created $170 million. Plus, the city has been funneling hundreds of millions of dollars into the project. Now, budget officials want the Midtown East rezoning to be delayed so Hudson Yards, where planned towers are struggling to find commercial tenants, doesn't see even more competition. [WSJ; previously]
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