The Hudson Yards District Improvement Bonus (DIB) provides additional floor area of up to 8.0 FAR for sites within certain subareas of the Special Hudson Yards and Special Garment Center Districts. To obtain the bonus an applicant would make a per square foot of bonus contribution to the Hudson Yards District Improvement Fund (DIF). The price of the bonus is adjusted every August as per the U.S. Department of Labor’s Consumer Price Index and currently stands at $125.36 per square foot. The DIF is used to repay bonds sold several years ago to finance infrastructure improvements in the Hudson Yards area.
In limited areas of the Special Hudson Yards and Special Garment Center Districts, where bonus floor area for residential use is sought, the DIB contribution must be combined with the provision of inclusionary housing to obtain the bonus. In that case a smaller per square foot of bonus contribution (approximately 45%) is required.
The Hudson Yards Parking Rules establish that there is a limited amount of off-street parking spaces available for sites within the Hudson Yards Parking Regulations Applicability Area (which includes the Special Hudson Yards District , the 42nd Street Perimeter Area of the Special Clinton District and Area P2 of the Special Garment Center District).
This amount is derived from a complex formula that is affected by the current number of off-street parking spaces in the Hudson Yards Area. Each year DCP staff surveys parking in the Hudson Yards Area and the results of that survey are expressed [here - PDF]. For more information on how the Hudson Yards Parking Rules were developed and how they operate, please click [here - link to HY Parking Text Archived]. If you would like to apply for off-street parking for a site in the Hudson Yards Area please contact DCP’s Manhattan Office for more information.