Besides serving Hudson Yards, the area serves the Javits Center; western Chelsea and Hell's Kitchen; and a nearby intercity bus stop that serves passengers who are boarding Megabus and BoltBus routes.
The warehouse district west of Eighth Avenue and north of 34th Street was rezoned in 2005 into a commercial and residential area, and the station is part of an effort to accelerate development in the area.
The reportedly "transformative" subway extension to 34th Street spurred development in the Hudson Yards area by providing transit access for future tenants of the Hudson Yards development.
In addition, the extension fit within the MTA's goal of transit-oriented development, namely to "ensure that all new residential and commercial growth in the MTA region between 2008 and 2030 is concentrated within a half-mile of an MTA station".
In addition to providing transit access to residents and tenants of nearby neighborhoods, the construction of the station was expected to bolster the area's commercial growth and, in turn, creating up to 50,000 jobs in the area.

Mitchell Moss, director of New York University's Rudin Center for Transportation Policy & Management, states that the development of Hudson Yards, and the related subway extension, were among the benefits of the 2012 Olympic bid, saying that "the #7 Extension will be one of the largest expansions of the New York City transit system in decades and one of the most significant in terms of its potential impact."
Moss says that redevelopment of the west side was a direct result of the new subway station's construction.
Kenneth T. Jackson, editor of The Encyclopedia of New York City, describes the extension as a "very important" one.
However, Lois Weiss of Bisnow wrote that the potential number of workers at Hudson Yards could also put a burden on the station capacity as well as on nearby buses.

Since the station started construction, land prices in the immediate area have nearly doubled.
Interest in the surrounding area has also grown, as many development companies are going to Hudson Yards to buy air rights; for instance Related Companies, already the developer of Hudson Yards, entered a contract to buy a $75 million-plus parcel of land between 35th and 36th Streets and between Eleventh Avenue and Hudson Boulevard, as well as land over a McDonald's to build 50 Hudson Yards.
Also as a result of the subway extension, three tenants have already been found for 10 Hudson Yards, and Citigroup is considering moving to the area.
Most importantly, however, the $750 million platform supporting much of Hudson Yards was built starting in January 2013; subway construction for a station that could potentially carry up to 27,000 daily passengers necessitated the construction of more buildings, as 70% of tenants are expected to come to Hudson Yards via the 7 subway extension.
Additionally, new restaurants, luxury condominiums, and stores have appeared near the station and along the extension's route, and residential prices along the extension have also increased.
A construction boom has occurred in the greater Hudson Yards area as well.

The station is described by the MTA as the centerpiece of the Hudson Park and Boulevard, as well as of the entire Hudson Yards project, which developers say could not have been started without the 7 subway extension.
Horodniceanu stated that "this new, modern station will be the lifeline of Manhattan's newest neighborhood.
It will make it possible for thousands of residents, employees and visitors to get to Hudson Yards easily and quickly.
Without the extension, this new development would not have been possible."
The completion of the High Line and the Hudson Boulevard, as well as the Javits Center renovation, are boosting development in the area as well.
Although Hudson Yards was not finished at the time of the station's opening, the High Line and the Javits Center immediately became popular destinations for station patrons.
Besides serving Hudson Yards, the area serves the Javits Center; western Chelsea and Hell's Kitchen; and a nearby intercity bus stop that serves passengers who are boarding Megabus and BoltBus routes. The warehouse district west of Eighth Avenue and north of 34th Street was rezoned in 2005 into a commercial and residential area, and the station is part of an effort to accelerate development in the area. The reportedly "transformative" subway extension to 34th Street spurred development in the Hudson Yards area by providing transit access for future tenants of the Hudson Yards development. In addition, the extension fit within the MTA's goal of transit-oriented development, namely to "ensure that all new residential and commercial growth in the MTA region between 2008 and 2030 is concentrated within a half-mile of an MTA station". In addition to providing transit access to residents and tenants of nearby neighborhoods, the construction of the station was expected to bolster the area's commercial growth and, in turn, creating up to 50,000 jobs in the area.
Mitchell Moss, director of New York University's Rudin Center for Transportation Policy & Management, states that the development of Hudson Yards, and the related subway extension, were among the benefits of the 2012 Olympic bid, saying that "the #7 Extension will be one of the largest expansions of the New York City transit system in decades and one of the most significant in terms of its potential impact." Moss says that redevelopment of the west side was a direct result of the new subway station's construction. Kenneth T. Jackson, editor of The Encyclopedia of New York City, describes the extension as a "very important" one. However, Lois Weiss of Bisnow wrote that the potential number of workers at Hudson Yards could also put a burden on the station capacity as well as on nearby buses.
Since the station started construction, land prices in the immediate area have nearly doubled. Interest in the surrounding area has also grown, as many development companies are going to Hudson Yards to buy air rights; for instance Related Companies, already the developer of Hudson Yards, entered a contract to buy a $75 million-plus parcel of land between 35th and 36th Streets and between Eleventh Avenue and Hudson Boulevard, as well as land over a McDonald's to build 50 Hudson Yards. Also as a result of the subway extension, three tenants have already been found for 10 Hudson Yards, and Citigroup is considering moving to the area. Most importantly, however, the $750 million platform supporting much of Hudson Yards was built starting in January 2013; subway construction for a station that could potentially carry up to 27,000 daily passengers necessitated the construction of more buildings, as 70% of tenants are expected to come to Hudson Yards via the 7 subway extension. Additionally, new restaurants, luxury condominiums, and stores have appeared near the station and along the extension's route, and residential prices along the extension have also increased. A construction boom has occurred in the greater Hudson Yards area as well.
The station is described by the MTA as the centerpiece of the Hudson Park and Boulevard, as well as of the entire Hudson Yards project, which developers say could not have been started without the 7 subway extension. Horodniceanu stated that "this new, modern station will be the lifeline of Manhattan's newest neighborhood. It will make it possible for thousands of residents, employees and visitors to get to Hudson Yards easily and quickly. Without the extension, this new development would not have been possible." The completion of the High Line and the Hudson Boulevard, as well as the Javits Center renovation, are boosting development in the area as well. Although Hudson Yards was not finished at the time of the station's opening, the High Line and the Javits Center immediately became popular destinations for station patrons.
34th Street–Hudson Yards station