Related Companies and Oxford Properties have started construction on the Hudson Yards Eastern Platform in the US.
Both companies have said that more than seven million square feet of development will be underway by the end of the year.
Construction on 10 Hudson Yards, home to Coach, L'Oreal USA, SAP and Fairway Market, started in December 2012 and is scheduled for completion in 2015.
The entire Eastern Rail Yards, including the home of Time Warner 30 Hudson Yards, is planned to be completed by 2018.
The Eastern Rail Yards will feature two commercial towers, more than 100 shops and restaurants, luxury and affordable residences, a hotel, cultural space and over six acres of open space.
Tutor Perini is serving as the general contractor for the Hudson Yards while Thornton Tomasetti is the platform's structure engineer.
Oxford Properties CEO Blake Hutcheson said the Eastern Platform will serve as the foundation for office, retail, residential and cultural aspects of the development, as well as public space.
Related Companies chairman Stephen Ross said: "With the first tower well underway and the No.7 Subway, Hudson Park and Boulevard and last segment of the High Line opening this year, we are thrilled to kick-off construction on the platform and the remaining towers in the eastern rail yards and see our collective vision become a reality."
Related Companies said Hudson Yards is the largest private real estate development in the US, and the largest development in New York City since the Rockefeller Center.
The 28 acre site will have more than 17 million square feet of commercial and residential space, more than 100 shops and restaurants, about 5,000 residences, a 750-pupil capacity public school and a 150-room hotel.
It is expected that more than 24 million people will visit Hudson Yards every year.
Image: Over seven million square feet of development will be underway by the end of the year. Photo: courtesy of Hudson Yards.