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March 22, 2007

Chugga, Chugga.... Thud!

From The New York Observer Real Estate -

It always seemed like a funny trick to get support for the new Yankee Stadium: build a new Metro North station nearby, not with the Yankees' money, mind you, but with the public's. Unfortunately, the $45 million that the Metropolitan Transportation Authority had set aside for the project, which was supposed to start this spring, is not nearly enough.

Try $80 million instead.

All of which, Real Estate Weekly reports in its March 21 issue (available in print only), led Bronx Borough President Adolfo Carrión to look for another way to pay for it. Wait, how about asking the Yankees to pitch in? No, Mr. Carrión has another idea.

He wants to let a developer build "an extensive mixed-use development" on top of the station in return for paying for the station's construction.

Don't hold your breath waiting for that new Yankee Stadium train station. It could be a long time coming.

Posted by Steve Lombardi at March 22, 2007 04:39 PM

Comments

Don't hold your breath waiting for that new Yankee Stadium train station. It could be a long time coming.
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Ah, they were talking about adding it in the 80's... Didn't hold my breath then either.

Posted by: Raf [TypeKey Profile Page] at March 22, 2007 10:31 PM