Hudson Yards on track for March 2019 opening
The final beam was inserted today in the crown of 30 Hudson Yards, the tallest structure in New York City’s newest neighborhood and taller even than the Empire State Building seven blocks to its east.
According to the developers, however, the true significance of the event is that Manhattan’s newest mega-neighborhood is on track for its promised grand opening in March of 2019.
“With less than nine months to opening, there is growing excitement around what will be an incredible destination for New Yorkers and visitors around the globe alike,” Michael Turner, president of Oxford Properties Group, co-developer of the site along with Related Companies.
Hudson Yards will add 18 million-plus sq. ft. of mixed-use development to an area once populated by warehouses near the Jacob Javits Convention Center. It will be home to more than 100 shops, including New York City’s first Neiman Marcus, Banana Republic, Coach, Lululemon, Zara, and H&M.
A chef-driven restaurant lineup will be headlined by Thomas Keller’s American restaurant, a new concept from Momofuku’s David Chang, and Costas Spiliadis’s Estiatorio Milos.
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Hendrickson to lead Brixmor’s Midwest division
Longtime RAMCO veteran John M. Hendrickson has been named president of Brixmor’s Midwest division and an executive VP of the company. He will oversee development and leasing for more than 19 million sq. ft. of open-air retail centers.
Hendrickson has 25 years of retail real estate experience, including 19 years in the REIT industry at RAMCO Properties Trust and Federal Realty Investment Trust. As RAMCO’s COO, he directed a 59-property open-air retail portfolio, including the identification and execution of $266 million of active and shadow redevelopment projects.
“John’s leadership skills, financial acumen and retail market expertise, in conjunction with the deep skill set of Corrine and our entire Midwest team, will be instrumental in harvesting the growth and value creation opportunities in our Midwest portfolio,” said Brian Finnegan, Brixmor’s executive VP of leasing.
Corrine Cecil was named VP of leasing for the Midwest in April.
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Sears ends its legacy in Chicago
Sears has closed its last store in the city it calls home.
On Sunday, the location known as the Six Corners store, closed for good. The location opened in the Irving Park neighborhood 80 years ago, during the Great Depression.
More than 100 employees were released in the latest closure from struggling Sears Holdings. When Kmart and Sears united in 2005, the combined company had about 3,500 locations. The company now has less than 1,000.
Since 2010, the last year the company was profitable, it has reported more than $11 billion in losses while closing stores by the hundreds.
After its founding as a catalog retailer, Sears moved its headquarters to Chicago in 1887. The company also opened its first two retail locations in the city.
Sears moved its headquarters to the Sears Tower, the tallest building in the world when it opened in 1973 and a record it held until 1997. The company eventually moved its base of operations outside of Chicago’s city limits to Hoffman Estates, Ill.
Wish Amazon would aquire Sears and Kmart and open brick and mortar stores with a slimmed down inventory and a place to pick up Amazon online orders.
Story includes inaccuracies. For example, the Sears Tower was not the tallest building in the world until 1997 - the CN Tower in Toronto was completed in 1976 and towered over Sears by hundred of feet. Kmart acquired Sears and changed the company name.