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Photos: The Largest and Most Expensive Real Estate Project in the US

 Hudson Yards will add $19 billion a year to New York City - that's more than Iceland's GDP

May 18, 2016

Overhead view of 23-acre Hudson Yards project

 

 

Hudson Yards, the largest private development project in New York City, will cost more than $20 billion over 13 years and contribute nearly that much annually into the city's gross domestic product, according to a report released Monday morning.

The report, "An Investment That's Paying Off: The Economic and Fiscal Impact of the Development At Hudson Yards," says that from 2012 through 2025, more than $20 billion will be spent on the project, employ approximately 7,030 construction workers annually, and accounts for about 16 percent of the total increase in construction employment in the city from 2011 through 2014.

When complete, the development will employ 55,752 people making an average of $175,000 a year, according to the report.

Click here to see AOL's 28-photo slide presentation, then read Crain's New York detailed story.

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