Hudson Yards
The principals of BJH have worked on various aspects of the Hudson Yards redevelopment project since 2002. In 2019 BJH completed an evaluation of the costs and benefits of the Hudson Yards redevelopment project for the Related Companies. In 2017 BJH provided analysis of current and potential future development in the district as a sub-consultant to a national real estate firm for a feasibility study in support of the successful refinance of $2.1 billion of bonds issued by Hudson Yards Infrastructure Corporation(HYIC). Services included demand analysis and tax and alternative revenue source estimation. In 2015 BJH prepared a development analysis and revenue projection report of the district for an investment bank. The study included a survey of residential, hotel, office and retail buildings completed, in construction and planned in the district, and estimation of current and future real property tax revenues, PILOT payments, and zoning bonus payments. In 2011 BJH was a sub-consultant that supported on HYIC’s second bond issuance ($1.0 billion) to complete its $3.0 billion project financing. In 2006 Kei Hayashi and Michael Meola, in prior positions associated with the City of New York, were involved with issuance of $2.0 billion of bonds by HYIC to fund the initial costs of the project and start subway extension construction. Kei Hayashi and Michael Meola both worked in senior roles in prior positions associated with the City of New York on the$3.0 billion plan of finance approved in 2005 to extend the No. 7 subway into the district, build parks and streets, and develop the MTA West Side Rail yards.
