Parts of the New York City skyline will be transformed over the next 30 years by the Hudson Yards development, a 26-acre, US$32.9bn (£21.5bn, €24.8bn) scheme, which has been in the planning stages since 2001.

The overall development is being driven by the Hudson Yards Development Corporation, with New York City-based property firm Related Companies selected to work on the redevelopment.

The centrepiece for the project is a mixed-use real estate development, which will consist of 16 skyscrapers and a 750,000 sq ft (70,000sq m) retail centre with restaurants, cafes, markets, a cinema and bars. Hudson Yards will have access to New York’s High Line and events at the $330m Culture Shed and the Public Square.

A number of architects have collaborated on the project, most notably Kohn Pedersen Fox Associates – one of the largest architectural practices in New York City.

Hudson Yards will have 25.8m sq ft (2.4m sq m) of office space, 20,000 housing units, a public school, one-million sq ft (92,000sq m) of retailing and more than 20 acres of public open space.

Around 12 acres of land has been left for parks. This will include a three-block Hudson Park and Boulevard and connections to the High Line, as well as six acres of open space on the Eastern Rail Yard development.

It's anticipated that developers will build approximately three million sq ft (278,000sq m) of hotel rooms in the neighbourhood over the next 30 years.

Related Companies is working with the Oxford Properties Group on the scheme. Related, which has major developments worldwide, is the largest owner of luxury residential rental property in New York. It also owns the Equinox Fitness brand, in addition to holding a partnership interest in Danny Meyer's Union Square Events company – the catering, culture, sports and events division of Union Square Hospitality Group. Oxford Properties is a global real estate investor, developer and manager, with portfolios in the office, retail, industrial, multi-family and hotel sectors.