Developers of a massive New York real estate project celebrated a major milestone on Wednesday with the pouring of a "last bucket" of cement on the first building slated to be finished at the Hudson Yards site on Manhattan's west side.
Plans for the 28-acre development include 17 million square feet of commercial and residential space, shops, restaurants, a public school and a luxury hotel, according to its website.
Retailer Coach Inc is scheduled in March 2016 to be the first tenant to occupy the building, 10 Hudson Yards, the largest commercial building ever erected in New York out of concrete, said Jeff Blau, chief executive ofRelated Companies, one of the site's developers along with Canada's Oxford Properties Group.
Blau said the Hudson Yards developers are closely monitoring a pending vote in December on whether Congress will renew the EB-5 jobs program, in which foreigners can lend a minimum $500,000 to a project in exchange for gaining U.S. residency.
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