Now the Yards, owned by the Metropolitan Transit Authority, are going to be redeveloped with a truly Midtown mix of uses including thousands of units of housing, millions of square feet of commerce, interstate transit and more parkland (12-16 acres) than any Downtown development could hope to provide. Five teams are to participate in the competition to design this project.
As the above rendering illustrates, this redev is meant to create a new planned focal point on the West Side of the island's Midtown to balance the affluent East Side developments (much as the World Trade Center was programmed to do for Downtown when it opened in the early 1970s).
Bounding this project to the West is the the old High Line, site of a new deconstructionist conflation of parkland and industrial viaduct to be undertaken by Diller Scofidio and Renfro. Can't wait to visit this area again in ten years...may be a pretty hot little place if it keeps going at this rate.