An addendum to my post yesterday on the Metropolitan Transportation Authority’s decision process at the West Side rail yards: Almost four months after the five development teams first submitted proposals (and spent millions of dollars to do so), it seems the MTA is nearly ready to narrow the field.
The MTA, which owns the 26-acre rail yards, has asked the development teams to send in “supplemental proposals” that give a detailed financial payment plan for a 99-year lease on the property. In a letter to developers, the MTA said the proposals will be used for “(i) eliminating proposals that are not to fall within the competitive range and (ii) commencing negotiations with the remaining eligible Proposers.”
Bids are due Feb. 19.
Follow Eliot Brown via RSS.