Overlooked last Friday, Mayor Bloomberg gave a little more detail into why the city wants to pay $500 million for the West Side Yards during his weekly WABC radio show.
“What we want is the city to be in control of what goes there and not somebody from outside this city or a private developer who is just trying to maximize his or her bottom line. This is just too important. The city should be in control.”
So, basically Bloomberg is afraid a private developer’s plan for the site wouldn’t be best for the city. I bet some of the old Jets stadium foes would fine that ironic. And with the city in control, Bloomberg could reject a plan he doesn’t like, no matter how much the developer ultimately bid. He also spoke about brining the no. 7 train to West Side.
But still no hints on what Bloomberg wants, “I think we don’t have any one list of projects but we know that good development in this city requires mixed-use, it requires open spaces, it requires good transportation, it requires schools, it requires a lot of things.”
Another interesting nugget from last week’s radio show: “And the subway system – New York City owns that. The MTA doesn’t own it. We lease it to the MTA and they are the operating authority. But this is really buying something from ourselves, and it will give us the opportunity to then go out and to let people compete for the rights to develop various things, but it will leave the city in charge of what is built there.”
Can anyone explain this arrangement? I had no idea that the city technically owns the subway. I always assumed it was all MTA property.
-- Chuck Bennett