PROPOSED NEW VENUES
In downtown Brooklyn, developer Bruce Ratner’s basketball arena is the centerpiece of a larger plan to build office towers and residential buildings. The arena will cost an estimated $600 million. While opponents continue to fight the plan, Ratner has already begun demolishing buildings and recently received $33 million in funding as part of a state budget agreement.
In Queens, the Mets will build a new $715 million stadium on the site of a parking lot at the current home of the Mets, Shea Stadium. The city will provide $165 million for infrastructure.
Recently, the New York City Council approved a new stadium for the New York Yankees in the Bronx. Much of the adjacent 22-acres Macomb's Dam and John Mullaly parks will bulldozed and replaced with a series of new parks to make way for the new stadium. While the Yankees will pay for the stadium, the public would pay $200 million for parks, parking garages, and a Metro North train station.
Both the Mets and the Yankees are also seeking tax-exempt
bonds from the city to finance their stadiums.
But the largest sports facility now proposed for the
city is a NASCAR track on Staten Island that would seat 80,000 people.
track would be privately funded and has some innovative features – such
as virtually forcing fans to take mass transit to the races – it
has attracted widespread opposition among Staten Islanders concerned
about its effects on the local economy and on the island’s already
horrendous congestion problems.