ManhattanBoy
June 17th, 2006, 08:45 PM
Building News - June 2006
New Baseball and Football Stadiums Approved
The New York City Council approves the plan for a new Yankee Stadium, New Jersey's governor greenlights a football stadium for the Giants and Jets, and the Mets unveil plans for a new ballpark in Flushing, N.Y.
New Stadium Projects Move Ahead
A proposal to construct a new Yankee Stadium in the Bronx cleared a major hurdle as the New York City Council voted overwhelmingly in favor of the plan for a 53,000-seat facility.
The $800 million stadium designed by HOK Sport of Kansas City will be built in Macombs Dam and John Mulally parks across the street from the existing Yankee Stadium. The new facility will mimic the façade of the stadium built in 1923 before it was redesigned 30 years ago.
The new facility will combine two structures - an oval stadium on the inside and an exterior rectangular retail and amenities section. Its placement drew local opposition over the loss of parkland in the borough as well as concern about traffic and pollution impacts.
Construction, with San Francisco-based URS Corp. handling program management, was scheduled to start in the spring, following approval of the city's monetary commitment by the city council's finance committee. Completion is slated for 2009.
The team is paying for the stadium construction, but the city, state, and private developers are funding another $438 million to demolish the old stadium, add and upgrade parkland to replace the 22 acres used for the new stadium, and build four new parking garages.
Meanwhile, New Jersey Gov. Jon Corzine lifted a hold he had placed on development of a new $1 billion football stadium for the National Football League's Giants and Jets franchises after negotiating new terms with the development team beyond the arrangement reached with Acting Gov. Richard Codey last year.
Under the new agreement, the parties have agreed to "relieve the state of predevelopment costs," amounting to $30 million, while allotting additional profits from operations to the teams. The Giants and Jets are acting as joint developer of the stadium, which they will own.
The 81,000-seat arena will sit on 55 acres, with the Giants using an additional 20 acres for practice facilities. The Jets, meanwhile, have agreed to purchase a 20-acre plot in Florham Park, N.J., for $20 million for their new corporate headquarters and practice fields, which will move the team from its longtime home on Long Island in New York. The New Jersey Sports and Exposition Authority was ironing out details of the final development deal and construction schedule in mid spring.
In addition, the New York Mets unveiled plans for a new baseball stadium in Flushing, N.Y. The design by HOK Sport evokes Ebbets Field, where the Brooklyn Dodgers had played.
The Mets will pay for construction and have requested approval for $632 million in tax-exempt and taxable bonds from the New York City Industrial Development Agency. The city will chip in $90 million and the state $75 million for capital infrastructure upgrades.
The new 45,000-seat stadium will be built on a parking lot next to Shea Stadium, where the Mets now play, and would open in 2009. A joint venture of Indianapolis-based Hunt Construction Group and New York-based Bovis Lend Lease, will manage construction.
New Baseball and Football Stadiums Approved
The New York City Council approves the plan for a new Yankee Stadium, New Jersey's governor greenlights a football stadium for the Giants and Jets, and the Mets unveil plans for a new ballpark in Flushing, N.Y.
New Stadium Projects Move Ahead
A proposal to construct a new Yankee Stadium in the Bronx cleared a major hurdle as the New York City Council voted overwhelmingly in favor of the plan for a 53,000-seat facility.
The $800 million stadium designed by HOK Sport of Kansas City will be built in Macombs Dam and John Mulally parks across the street from the existing Yankee Stadium. The new facility will mimic the façade of the stadium built in 1923 before it was redesigned 30 years ago.
The new facility will combine two structures - an oval stadium on the inside and an exterior rectangular retail and amenities section. Its placement drew local opposition over the loss of parkland in the borough as well as concern about traffic and pollution impacts.
Construction, with San Francisco-based URS Corp. handling program management, was scheduled to start in the spring, following approval of the city's monetary commitment by the city council's finance committee. Completion is slated for 2009.
The team is paying for the stadium construction, but the city, state, and private developers are funding another $438 million to demolish the old stadium, add and upgrade parkland to replace the 22 acres used for the new stadium, and build four new parking garages.
Meanwhile, New Jersey Gov. Jon Corzine lifted a hold he had placed on development of a new $1 billion football stadium for the National Football League's Giants and Jets franchises after negotiating new terms with the development team beyond the arrangement reached with Acting Gov. Richard Codey last year.
Under the new agreement, the parties have agreed to "relieve the state of predevelopment costs," amounting to $30 million, while allotting additional profits from operations to the teams. The Giants and Jets are acting as joint developer of the stadium, which they will own.
The 81,000-seat arena will sit on 55 acres, with the Giants using an additional 20 acres for practice facilities. The Jets, meanwhile, have agreed to purchase a 20-acre plot in Florham Park, N.J., for $20 million for their new corporate headquarters and practice fields, which will move the team from its longtime home on Long Island in New York. The New Jersey Sports and Exposition Authority was ironing out details of the final development deal and construction schedule in mid spring.
In addition, the New York Mets unveiled plans for a new baseball stadium in Flushing, N.Y. The design by HOK Sport evokes Ebbets Field, where the Brooklyn Dodgers had played.
The Mets will pay for construction and have requested approval for $632 million in tax-exempt and taxable bonds from the New York City Industrial Development Agency. The city will chip in $90 million and the state $75 million for capital infrastructure upgrades.
The new 45,000-seat stadium will be built on a parking lot next to Shea Stadium, where the Mets now play, and would open in 2009. A joint venture of Indianapolis-based Hunt Construction Group and New York-based Bovis Lend Lease, will manage construction.