Posted by The West Side Rail Yards project will go on, despite the loss of one of its partners.
The Metropolitan Transportation Authority announced Monday that financial giant Goldman Sachs has pulled out of the $1 billion deal to redevelop the Hudson rail yards.
However, the plans are expected to go on unchanged. The MTA is delaying the project by two more months to get the paperwork in order.
A spokesperson for the developer, Related Companies, says they are committed to the project and are in the process of refining their contract.
Related has also agreed not to start building on the 26 acre site until economic recovery goals are met.
Goldman Sachs has not said why it pulled out of the deal.
Source: NY1
