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.
– Matthew Schuerman