Hudson Square used to be a quiet part of Manhattan that people didn’t pay much attention to. But now, it’s become a busy area where big tech and media companies like Google and Disney have set up shop.
Google recently opened its New York headquarters at St. John’s Terminal in February they bought for $2.1 billion in September 2021. Disney is also almost done building its 22-story headquarters at 7 Hudson Square. These moves show how much the neighborhood has changed and how attractive it has become.
This change has been happening for a while, with more and more tech and media companies looking for places that mix old charm with modern facilities. Hudson Square has become just that kind of place.
A Force for Change
Google and Disney moving into Hudson Square have started something big. They’ve got people interested and investing in the area.
One big sign of this is the plans for One Grand. It’s going to be a 28-story office building built by Taconic Partners and Nuveen Real Estate.
When it’s done, it will add 431,000 square feet of space to the area. Even though the office market in New York City is tough right now, with lots of space available, Hudson Square is still looking good.
People are hopeful about Hudson Square’s future. That’s because it’s changing from a place with lots of factories into a spot where tech and media companies want to be. It’s a mix of old buildings and new technology, and people like that mix.
The Wider Effects of Changing Offices to Homes
The story of Hudson Square’s comeback is part of a bigger picture happening across New York City. This is shown by the state’s new plan to change offices into homes.
The goal of this plan is to fix the city’s lack of housing and improve its office market. SL Green Realty Corp. supports this plan.
The company wants to turn its nearly empty office building at 750 Third Avenue into apartments. This is encouraged by Governor Kathy Hochul’s tax incentive plan. It shows how changing offices into homes could change how New York City looks.
This plan could turn 20 to 40 million square feet of office space into homes for people to rent. It’s a big change in how the city plans to develop and provide housing.
A New Time for New York’s Real Estate
Hudson Square is changing into a place where tech and media businesses gather, and more offices are being turned into homes. This shows that New York’s real estate market is entering a new phase.
These changes show that businesses and people in the city are adapting to new needs. They’re finding ways to mix preserving old buildings with adding new ideas.
Big companies like Google and Disney are moving into places like Hudson Square. They’re not just changing how these neighborhoods look, but also making them more varied and exciting.
