Skip to content
CityLab
Housing

The Hidden Horror of Hudson Yards Is How It Was Financed

Manhattan’s new luxury mega-project was partially bankrolled by an investor visa program called EB-5, which was meant to help poverty-stricken areas.
Hudson Yards is the $25 billion mega-project critics love to hate.
Hudson Yards is the $25 billion mega-project critics love to hate.Mark Lennihan/AP

Since its official unveiling last month, critics have been teeing off on Hudson Yards, the $25 billion office-and-apartment megaproject on Manhattan’s West Side. The Guardian’s Oliver Wainwright calls it “bargain-basement building-by-the-yard stuff that would feel more at home in the second-tier city of a developing economy.” In Curbed, Alexandra Lange writes that it suffers from “no contrast. No weirdness, no wildness, nothing off book.” The New York Times’ Michael Kimmelman describes it as a “vast neoliberal Zion.”

“New York politics and real estate are notoriously akin to Rashomon,” reads Kimmelman’s review. “Any verdict on an undertaking as costly and complex as Hudson Yards depends on one’s perspective.”