Hudson Yards Seen As A Trial For The Mall Of The Future. Here’s How It’s Going So Far

When the Hudson Yards megamall opened on the West Side of Manhattan roughly half a year ago, there were plenty of skeptics. And there still are. The development, a sprawling 1 million square feet of retail space, is in many ways supposed to be the new blueprint for a shopping mall in the twenty-first century and age of Amazon. There’s a floor dedicated to brands born on the internet, only one department store, plenty of restaurants, co-working space, interactive art exhibits lining the walls and room to lounge outdoors. Everyone wants to know if Hudson Yards can succeed, at a time when more and more people are turning to the internet to do their shopping. And so far, early readings show the property looks to be trending in the right direction. When it opened, the retail portion of Hudson Yards was about 85% leased, according to Webber Hudson, an executive vice president at Related Urban, a division within the developer, Related. By the end of 2019, it will be close to 95% leased, he said, surpassing expectations of hitting 90%. Click to read more at www.cnbc.com.