New York & Tri-State CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

New York & Tri-State  + Midtown New York  + Finance  | 
34 Street Hudson Yards subway station Manhattan

Hudson Yards Agency Will Issue NYC’s First Green Bond

Hudson Yards Infrastructure Corporation (HYIC) will sell the first green bond issued by a city-related entity. Proceeds from the $450-million bond sale, which follows HYIC credit ratings upgrades last week, will be used to refinance bonds issued in 2012 to fund the extension of the Number 7 Subway Line to Manhattan’s West Side, a project that was completed in 2015 

The subway extension has helped mitigate the impact of climate change by encouraging low-carbon transportation and has fostered the development of the Hudson Yards mixed-use district.  

“With this historic green bond sale, the first of its kind by a New York City-related entity, the City is safeguarding its future—financially and environmentally,” said NYC Comptroller Scott Stringer. “I am pleased that these bonds are being issued as Green Bonds in recognition of the benefits of mass transit and continue to urge the creation of a robust, citywide Green Bond program.” 

Photo courtesy of the Metropolitan Transportation Authority.

Connect

Inside The Story

Comptroller Stringer

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
New call-to-action
AvatarFinancialGroup-04-cube
New call-to-action