21 Acres And A Jackass Administration – Wasteland of Space At Yankee Stadium

It's City politics at its finest in the Bronx. When the Bloomberg administration fought (not so hard and not so smartly) to keep the Yankees in the Bronx, they gave a sweetheart deal for the team's demand of parking for 9,000. Now, the owners and operators of the 21 acres of concrete wasteland are close to defaulting on over $200 million in bonds - and according to the Daily News, will be the largest default on city issued bonds in decades. How many times did the community rally against so much parking space when statistics showed that fans weren't using the old ones as much in the first place? Many Yankee fans already arrived by subway and surely more would come via the new Metro North Station at 153rd Street. Now, with no one really using the parking lots that barely reach a third of capacity on game days, the operators raised the the parking rate from $24 to $35 last year which will further impact the occupancy rate. These 21 acres could have been put to much better use as a system of world class parkland, affordable mixed-income housing and perhaps that long awaited hotel. Now who suffers? The tax payers and the community suffers from such sweetheart deals and since it's in the Bronx (particularly the South Bronx) City Hall will continue to turn the other way when questioned about this financial fiasco. If you ask me, this is a scandal worthy of federal investigation and perhaps a class action lawsuit against the City. Read more at the Daily News. http://www.nydailynews.com/news/pricey-yankee-stadium-parking-garages-owner-heading-default-237-million-bonds-article-1.1016386?localLinksEnabled=false

Comments

comments

Powered by Facebook Comments