And then there’s this, via the real estate blog New York YIMBY:
YIMBY has the first look at an enormous project coming to the South Bronx waterfront, dubbed Harlem River Yards, submitted to the city by a Related-led partnership. The plans would rise adjacent to Somerset Partners’s assortment of new towers already in the works, adding another major affordable housing building, as well as the City’s first dedicated soccer stadium, with 26,000 seats, designed by Rafael Viñoly. The total cost is projected at $700 million.
The partnership is comprised of Related, Somerset Partners, and the New York City Football Club, which would be the occupying team for the new stadium.
The railyard RFP actually was open for expressions of interest more than a year ago, so if NYC F.C. and its partners — Related is the realty giant run by Miami Dolphins owner Stephen Ross — have been secretly planning this, they’ve been secretly planning it for a while. The YIMBY report doesn’t say anything about any public money being involved, though it does say Related and Somerset would pay $500,000 a year on a ground lease for 12.8 acres of state land; developer Keith Rubinstein (of “Piano District” fame, and also the principal of Somerset Partners) spent $58 million for five acres just one bridge over a couple of years back, so if that’s any gauge, the state should be getting more like $10 million a year in rent, which would a total state subsidy of about $130 million in present value.
There’s also the question of whether an MLS stadium can even fit on the site without some major reworking of the Harlem River waterfront. Here’s the rendering of the site provided by YIMBY:
And here’s Red Bull Arena in Harrison, New Jersey, pasted over the site by me via Google Maps and Photoshop:
I mean, maybe, if the architects are super-creative and trim the corners just right? But soccer pitches only come in one size, and Red Bull Arena is pretty compact already, so I’d like to see something with actual measurements before saying for sure that this wouldn’t require closing streets or moving navigable shipping lanes.
Plus, keep in mind this is only a proposal — the state Empire State Development agency still would need to approve it as the winner. In any case, expect lots more on this tomorrow once the rest of the New York media gets hold of it…