« Big Stein Becomes Big Milk Carton | Main | July 5th vs. The Twins »
July 05, 2007
New Digs Loses Some Parking Spots
From Metro -
The Yankees may make more money than any team in baseball, but it pays for that privilege. Its profit margins, in fact, look razor-thin.
Now the city may follow that business model in financing the $281 million project to construct and rehab parking garages for the Yankees’ new stadium.
Since 2005, the city has looked for a developer to build four garages, but it received only two responses to its request for proposals. One was tossed as untenable.
In April, the city turned to its remaining candidate: Community Initiatives Development Co., a not-for-profit that would qualify for $190 million in triple tax-exempt bonds from the city. That lowers the cost of borrowing for a private entity by about $2 million a year, or $90 million over the life of the 40-year bonds.
Rebecca Asser of the city’s Economic Development Corporation told Community Board 4 last month,“The original RFP presented a plan that wasn’t really economically viable and would have required the city contributing [additional] money. ... So we tried to make the plan a little bit more viable.”
The revised deal subtracted one garage, or 1,865 spaces. The extra parking was no longer necessary after the city teamed with the MTA on a $90 million new Metro-North station.
For a ballpark that should have at least 10,000 parking spots, losing any amount is bad news for those who like to drive to the game.
Where did I come up with 10,000? Their plan - at first the spots were to increase from 6,995 to 10,310. Now it looks like it will be 8,445. That's not a very large increase - just about 20%.
That's not really an improvement at all.
Posted by Steve Lombardi at July 5, 2007 09:06 AM
Comments
Just read this on the link you provided:
~~~There are only 6,995 dedicated parking spaces currently available for Yankee Stadium patrons in surface lots and garages within an approximate ½-mile radius of the existing stadium. ~~~
But with the reduced # of seats @ the stadium and increasing the current # of spaces by 1,450, then doesn't that make things "slightly" better?
Posted by: Garcia ![[TypeKey Profile Page]](http://www.waswatching.com/nav-commenters.gif)
at July 5, 2007 09:38 AM
if anyone is interested, I found this page that has up to date Yankees news feeds
http://www.dcdeal.com/yankees
Posted by: ziola1039 at July 5, 2007 09:50 AM
This is New York, not some quasi-suburban baseball stadium on the outskirts of a small city. Those people who, you say, "like to drive to the game" should, for the benefit of everyone, just learn to take public transportation. It's not that onerous and the new Metro-North stop will make it even easier.
Posted by: Ben K. at July 5, 2007 10:21 AM
This is New York, not some quasi-suburban baseball stadium on the outskirts of a small city. Those people who, you say, "like to drive to the game" should, for the benefit of everyone, just learn to take public transportation. It's not that onerous and the new Metro-North stop will make it even easier.
================
Yes, but we are a nation of convenience.
There are some people who prefer driving in, there are others who don't have much of a choice. Depending on where I lived, I did a combination of the two, parking north of the stadium (near Lehman)
Until they get the GCT LIRR link together, it's a PITA to get to a Yankee game from LI. Without a Metro North station, it's a PITA to get to a game from CT and upper Westchester.
You're looking at 2-3 transfers depending on where you're coming from and on top of that, you're at the mercy of the planners or scheduling. And there isn't much of a savings in time.
Posted by: Raf at July 5, 2007 10:42 AM
What Raf said. It's a matter of logistics. If I'm going to make it to the game on time leaving from work at 5:00 in Metuchen, taking the train isn't really an option. Especially when I have to go home after the game to Clifton.
I just wonder what will become of the lot I currently park in. Right now it's a couple blocks from the Stadium. But if it's still standing in 2009, it will be just outside of center field and may very well be a premium lot for prepaid parking.
Posted by: Jen at July 5, 2007 12:45 PM