$700M proposal calls for NYC's first soccer stadium and 550 affordable apartments in the South Bronx | 6sqft
Rendering via Rafael Viñoly Architects New York City could be getting its first soccer stadium if a proposal for the project led by Related Companies gets chosen by officials.
From article, (New York City could be getting its first soccer stadium if a proposal for the project led by Related Companies gets chosen by officials. A partnership made up of developers Related and Somerset Partners, along with the Major League Soccer team, New York City Football Club, has submitted a plan to bring a 26,000-seat soccer stadium designed by Rafael Viñoly, over 550 units of affordable housing and a waterfront park to the South Bronx. According to YIMBY, the project, estimated to cost $700 million, would rise on the site of the Harlem River Yards, a 13-acre parcel in Mott Haven operated by the Empire State Development Corporation.
The stadium would be located next to the site that is already undergoing development by Somerset and Chetrit Group; they recently sold the five-acre parcel to Brookfield Properties for $165 million. The original project includes building six structures of housing, containing more than 1,200 units.
Sources tell YIMBY that the stadium would sit above existing rail yards, adding $75 million to the price tag. The proposal says the partnership would pay $500,000 annually for a 99-year ground lease. The group would also invest $25 million into the new waterfront park and an additional $100 million into making the site buildable.
If chosen by the Empire State Development Corporation for their RFP, the partnership expects a completion date of 2022.)For More Info
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