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New York City Housing Authority tenant associations picked Related Companies and Essence Development for renovations and building management through a PACT conversion.
In 2010, when Ronald W. Wackrow was about four months shy of completing the rescue of the troubled 6.5-million-sq-ft Cosmopolitan in Las Vegas, his boss, Related Cos. Chairman Stephen M. Ross, suggested his next assignment: Relocate to the East Coast to steer design and construction of the developer’s 17.5- million-sq-ft Hudson Yards—a 26-acre mini-city primarily sited over the Long Island Railroad yard on the far West Side of Midtown Manhattan.
Opinions may differ on where the heart of New York is, but two developers have set out to make a 26-acre site on Manhattan's West Side a serious contender for the title.