When thinking about the most expensive real estate developments in America, an image of the New York City skyline is probably the first thing that pops into one’s head. It is no surprise then that the most expensive private real estate development to ever be built in America, the Hudson Yards neighborhood, will be situated right in the heart of the “Big Apple.” It is estimated that the project will be finished by 2024 and that the entire project will cost $20-billion in total. Though the Hudson Yards neighborhood will be in a league of its own cost wise, other large-scale, multi-billion-dollar real estate developments have been or are in the process of being built. Here are some of the other most expensive real estate developments in America:
Springwoods Village in Spring, Texas
Set to be completed in 2024, the same year as the Hudson Yards neighborhood in New York City, Springwoods Village in Spring, Texas is estimated to cost a total of $10-billion once all is said and done. The first part of the development, a 2000-acre residential area, has been completed and has been in use since 2014. Spring, Texas is also located just 20 miles north of Houston, making this development just a stone’s throw away from big city life.
The City Center in Las Vegas, Nevada
Construction began at this 16.7 million-square-foot development in 2006 and was finished three years later in 2009. The 8.5-billion-dollar undertaking showcases five towers, casinos, luxury shops, hotels, and condos. Notable buildings within the property are the Veer Tower condominium complex, the ARIA Resort and Casino, the Crystals Retail District, the Vdara Hotel and Spa, and the Mandarin Oriental Hotel.
One World Trade Center in New York City, New York
Being built on the same property as the World Trade Center buildings that were destroyed or damaged beyond repair on 9/11, the One World Trade Center will feature seven buildings in total. Four of the seven buildings have already been completed. These include three skyscrapers and a $4-billion transportation hub. A large memorial commemorating the events and the people that were affected by 9/11 also stands on the property. There are numerous estimates of the total cost of the development. The New York Times estimated that the whole project could cost no less than $8-billion, but they have also stated that after considering the loss of all of the property, such as office equipment, from the original WTC buildings, that the cost could be no less than $55-billion in total. The One World Trade Center is on track to be finished in 2021.