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January 24, 2009
Whither Hudson Yards, again?
2nd Ave. Sagas
This assessment of the problems the MTA is having concerning the sale of Manhattan's West Side Yards includes an opinion that the proposed Atlantic Yards project will be on hold for the coming year.
But with MTA CEO and Executive Director Elliot Sander calling the negotiations “very sensitive,” it’s easy to see a collapse in the near future. With this deal on the rocks — and the Atlantic Yards deal treading water for another year — the MTA’s capital budget may suffer. These mega-projects were to bring in over $1 billion, and if they both fall through, the MTA will have to scramble to replace the funds.
NoLandGrab: It's not clear if developer Bruce Ratner can hold on for a year or if MTA wouldn't be better off if it held competitive bidding for the Vanderbilt Rail Yard.
Posted by steve at January 24, 2009 8:30 AM