Hudson Yards Infrastructure Corporation - New York, NY

Hudson Yards Infrastructure Corporation (HYIC)

Infrastructure Financing and Development

The Hudson Yards Infrastructure Corporation (HYIC) is a not-for-profit local development corporation created by the City of New York. Its primary mission is to finance the critical infrastructure work required to transform the Hudson Yards area on Manhattan's Far West Side into a vibrant mixed-use district. Operating from the municipal offices at 255 Greenwich Street, HYIC has been instrumental in funding key projects, most notably the extension of the No. 7 Subway Line to 34th Street-Hudson Yards and the creation of Hudson Park and Boulevard. The corporation issues bonds backed by revenues generated within the Hudson Yards Financing District, such as payments in lieu of taxes (PILOT) and developer fees.

Bonds and Investor Relations

HYIC's core function involves the issuance and management of bonds to support the city's development goals. It does not offer direct public services like a DMV or a benefits office; rather, it serves as a financial vehicle for the city. The corporation's activities are overseen by a Board of Directors and managed by staff from the New York City Office of Management and Budget (OMB). HYIC ensures that the debt service on its bonds is met through the collection of district revenues, maintaining the fiscal stability of the development project. Information regarding its bond issuances, financial reports, and investor relations is publicly available for transparency.

• No. 7 Subway Extension Financing
• Hudson Park and Boulevard Development
• Bond Issuance and Management
• District Revenue Collection

Location and Access

The corporation is located in the heart of the Civic Center at 255 Greenwich Street, a major government office building that houses various city agencies. As an administrative and financial entity, HYIC is generally not open to the public for walk-in services. Interaction with the corporation is typically limited to investors, developers, and city officials. The location is highly accessible via public transit, situated near the World Trade Center and City Hall hubs. Security protocols at the building are strict, requiring identification and screening for all visitors.