This puffed-up cultural citadel was meant to be an endlessly evolving, telescopic arts complex. But the glistening billionaires’ playground rising up beside it had other plans

It seems fitting that the cultural centre of New York’s latest luxury private development should look like a quilted Chanel handbag. Rearing up at the northern end of the High Line on Manhattan’s reborn West Side, the Shed presents a 10-storey wrapping of puffed-up diamond cushions to passersby, standing as the gaudy gateway to Hudson Yards – the most expensive real estate project in US history.

While it might fit in with the gilt-edged world of Swiss watch boutiques and Michelin-starred chefs that awaits in this $25bn private enclave, it is an unlikely costume for what the project’s architect and originator, Liz Diller, insists is “simply a piece of infrastructure” to support whatever artists want to do. “It’s not precious,” she says of the $500m building. “It’s muscular and industrial, just meat and bones.”