But green spaces do come at a price, especially in Hudson Yards. To expand a park in the area by a mere three blocks, it will cost the city more than $124 million per acre. The new portion will extend the green space to West 39th St. Currently, the park occupies the first three blocks of Hudson Boulevard Park between West 33rd and West 36th Streets. According to Crain's New York, that's the most expensive park project Manhattan has ever seen.
Senior vice president at the Trust for Public Land and former city parks commissioner says "it blows out of the water by far the previous most-expensive park that I had ever heard of, which is the High Line." Yowza! New York's famous elevated park cost a whopping $36 million per acre!
Mayor Bill de Blasio gave the ok for a city-controlled corporation to send $500 million worth of bonds, backed by property tax revenue from the area, to pay for the second addition of Hudson Yards Park. Additionally, real estate company Tishman Speyer said they would help pay for the park as long as they are given development rights at a planned tower.
So why is it so costly compared to our fair city’s other parks? There are few reasons, one being that according to Crain’s, “a large chunk of the footprint is now a gaping hole over an Amtrak rail line that must remain active.” Also, the entire landscape for the green space is privately owned.
It’s definitely a hefty purchase, but making New York a little more green is always a nice thought, isn't it?