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July 7, 2006
City Offers $500 Million for West Side Railyards
Remember how the MTA held a sham bidding process for the Hudson Railyards? Then, just over a year ago, the Public Authorities Control Board nixed the entire deal.
Today, Charles Bagli in The NY Times is reporting that:
The Bloomberg administration and the City Council have offered to pay $500 million for the development rights to 26 acres of railyards on Manhattan's Far West Side, the site of a titanic but unsuccessful battle last year to build the world's most expensive football stadium.
NoLandGrab: Here's proof that the Mayor understands that sports stadiums and arenas are not the only way to spark development. It also shows that it is possible for NY City to go back to the drawing board to develop the Vanderbilt Railyards at Atlantic and Flatbush without undermining the existing fabric of the surrounding communities.
Posted by lumi at July 7, 2006 9:16 AM