The long awaited development of 15 Hudson Yards is now officially underway after construction firm Tutor Perini was awarded the $1.2 billion contract by long-time Hudson Yards investment groups Related Companies and Oxford Properties Group.
Tutor Perini will take on the task of completing the 70-story residential building Tower D and retail complex The Shops & Restaurants.
With over 100 retail stores, the seven story Shops & Restaurants complex will be home to Per Se Kitchen and a vast array of high end dining and will be anchored by luxury retailer Neiman Marcus.
In what will be its 107th year of operation, the Dallas based retailer will celebrate the opening of its first New York store. Fueled by New York’s tourism boom in the early part of the decade, luxury retailer decided to enter the largest economic market in the United States back in 2014.
Founded in 1907 by Herbert Marcus the retailer was founded on “bad business judgment” after its founder bypassed a chance to invest in the upstart Coca-Cola bottling company.
Primarily dealing with women and children’s apparel, Neiman Marcus would incorporate men’s clothing into its stores and would take advantage of the oil boom era in Texas. During the 1960s, their clientele included domestic and foreign royalty, from the Shah of Iran to Gloria Vanderbilt and her son, current CNN anchor Anderson Cooper.
The store design will be handled by Jason Goldstein LLP and will encompass three levels in its 250,000 square foot location, featuring in-house dining staple NM Cafe.
With its inclusion into The Shops & Restaurants, Neiman Marcus will draw more attention to Hudson Yards and establish it as a luxury retail hub in Manhattan.
The 15 Hudson Yards project, including The Shops & Restaurants is projected to be completed by the Fall of 2018.