Skeptics, though, question the sustainability of such a project some distance away from Manhattan.
“What the proposal tells me is that someone’s got a parking garage that isn’t making money, they’re desperately looking to bail it out, and they’re looking for an economic development angle that will make the thing look like a grand success,” said Heywood Sanders, a public administration professor at the University of Texas at San Antonio.
“There is no market analysis here,” Sanders, an author and frequent critic of publicly financed convention centers, said in a phone interview. “It’s like they’re saying, 'Please, developers, tell us if you might be interested.’ ” - The Bond Buyer - September 26, 2011
Adding Insult To Injury. After allowing the NY Yankees to seize 25.3 acres of public parkland without requiring that it all be replaced, the city under the Bronx Overall Economic Development Corporation (BOEDC) - is now seeking proposals to develop a hotel and conference center on the site of one of Yankee Stadium's parking garages (Garage 8 - above). And as Neil deMause pointed out, a clause way at the end of Diaz' call for developers notes that the city's agreement with the team requires it to replace any eliminated parking spaces — so somebody's either going to have to find room for a new garage or (more likely) buy out that clause from the Yanks with cold, hard simoleons."
The Related Company's Gate Way Mall (left) is where the community wanted the new stadium to be built. Instead, Related got the property from the Bloomberg administration in a behind close door deal. (Bronx Overall Economic Development Corp. rendering)
Bronx
Officials in the Bronx are hoping to put a hotel and conference center on the site of one of Yankee Stadium's parking garages, according to NBC News. Condos, shops and a high-end penthouse restaurant are all part of the plan.
The Bronx Overall Economic Development Corp. on Monday invited developers for proposals.
The site to be developed is at River Avenue and 153rd Street, bordering the park where old Yankee Stadium stood.
Borough President Ruben Diaz Jr. said developers and hotel operators have expressed interest in such a hotel for years.
Chuck Lesnick, vice president of the agency that manages the stadium garages, said he hoped visiting baseball teams as well as tourists would be attracted to the hotel.
Read More:
NBC News - September 19, 2011
The Village Voice Blogs - September 20, 2011 - By Neil deMause
The Bond Buyer - September 26, 2011 - By Paul Burton
A Walk In The Park - July 29, 2011
A Walk In The Park - March 31, 2011
A Walk In The Park - March 25, 2011
A Walk In The Park - March 15, 2011
A Walk In The Park - October 29, 2010
A Walk In The Park - September 10, 2010
A Walk In The Park - June 29, 2010
A Walk In The Park - June 16, 2010
I don't understand how so many promises developers make can be broken and there are no penalties.
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