Photo/rendering of MTA Hudson Rail Yards Financing

MTA Hudson Rail Yards Financing

This unique Metropolitan Transportation Authority financing generated over $1 billion for the MTA's capital plan.  Hawkins served as disclosure counsel on the transaction, under which bonds were secured by a pledge of annual ground lease payments made by the project sponsor that developed a multi-billion dollar commercial, residential and public facility complex over the 26-acre Long Island Rail Road rail storage and maintenance yard on New York City's west side. The Hudson Rail Yards project substantially completed the development of a new neighborhood in the last largely undeveloped section of Manhattan.

Client Metropolitan Transportation Authority (NY)
Role Disclosure Counsel
Distinction Landmark New York City Redevelopment Lease Revenue Financing
Issuer Metropolitan Transportation Authority (NY)
Issue Size $1 Billion