Since Disney announced in July that it is relocating its New York headquarters to 4 Hudson Square, the downtown New York City neighborhood was primed to be a focus of construction and development over the next couple of years. CIS Project
But when Google stepped in last week and announced that it plans to invest $1 billion on a 1.7 million-square-foot campus in Hudson Square, well, suddenly the spotlight seems set on the area on the lower west side of Manhattan. CIS Project (With maybe a little attention still finding its way to Amazon in Long Island City if Jeff Bezos has anything to say about it.)
The 1.2 million-square-foot Disney project is expected to create thousands of jobs during development and construction. Starting in the coming year, it will involve the demolition of three buildings for the construction of a state-of-the-art, LEED-certified, energy efficient complex with offices, and production spaces complete with the latest technology and the ability to adapt to the coming technological advances. The site–which Disney reportedly spent $650 million for–is a full city block, bordered by Hudson, Varick, Vandam, and Spring streets.
With these work spaces will come residential and retail needs for the thousands of employees who will flood the neighborhood. Multiple high profile residential projects are underway or recently completed, including neighborhood transforming buildings at 570 Broome CIS Project, 111 Varick St, CIS Project, and 60 Charlton St. CIS Project
The Jackie Robinson Museum is also coming to the area, set to open in the spring of 2019 at the corner of Canal and Varick streets.
If there wasn’t enough going on, Google made it certain: Hudson Square will be the place for development and construction in the near future. It is set to be the neighborhood to be in the coming years in New York City.
In New York City, the coming of Amazon is pushing the industry even harder to fill the existing vacancies, says Bisnow.com. But the Amazon to Long Island City issue is not an isolated case created by the corporate giant.
The Associated General Contractors of America 2018 Workforce Survey revealed that 79 percent of New York firms reported having difficulty finding hourly workers. As part of its recommendations to reduce the labor shortage the AGC of NY suggested that educational reform is part of the process. That includes a proposal to expand federal work-study programs and apprenticeship opportunities, as well as better educate students about employment outcomes, according to a story in the Albany Times Union.
The story continued: The report noted immigration reform as a key issue. With millions of undocumented, able-bodied immigrants who can’t legally work, the AGC says a visa program would alleviate the labor shortage and recommended expanding seasonal worker visas, as well as market-based visas to mitigate the current and future worker shortages.
When Amazon announced it chose Long Island City as one of its two, new HQ2 locations, New York officials emphasized the new construction projects and infrastructure improvements that will come with Jeff Bezos’ multi-billion dollar company. According to the press release from NYC mayor Bill de Blasio’s office, the pending projects include:
- Four million square feet of commercial space on Long Island City’s waterfront over the next 10 years, with expansion opportunities for up to eight million square feet over the next 15 years.
- A 10,000 square-foot on site employment center
- A new approximately 600-seat intermediate public school
- A 3.5-acre waterfront esplanade and park
The construction is expected to create an average of 1300 direct construction jobs annually through 2033, according to city officials. Read the complete press release here.
According to Curbed New York, to fund local infrastructure—streets, sidewalks, open space, etc.—Amazon will utilize the city’s PILOT (payment in lieu of taxes) program, estimated to be $600 to $650 million over four decades. The details of how those funds will be allocated will be decided upon via community engagement, the ny.curbed.com article said.