New Stadium Would Anchor Redevelopment

The ballpark where Ruth, DiMaggio, and Mantle made history would be retired under a far-reaching proposal championed by Bronx Borough President Adolfo Carrión. Still in the conceptual phase, Carrión said in a recent interview that total investment, if he gets the Yankee Stadium neighborhood redevelopment plan moving forward, would be "upwards of $1 billion."

Anchoring the plan would be a new $750 million, 50,000-seat stadium. The present 82-year-old park would be reduced in size and transformed into a playing field and community village green, as well as the home for a Yankee Hall of Fame and Museum. Flanking the old stadium in the plan would be a 250-room hotel and conference center and what Carrión called the concept's "crown jewel" - a magnet high school for careers in the sports industry. The plan also envisions building a velodrome to host cycling races should the city be successful in its bid to host the 2012 Summer Games.

Related infrastructure in the plan calls for a $400 million to $500 million investment, Carrión said, including a new Metro North train station, three renovated subway stations, and a new ferry terminal. The plan also calls for 1 million sq. ft. of retail space, a 13,000-space parking structure beneath a new plaza, and extensive street and park improvements. Most work would begin after 2005 and wrap up around 2011, "because we need to be ready by 2012" for the Olympics, Carrión said.

State Approves Javits Expansion

State leaders have approved a $1.4 billion expansion of the Jacob K. Javits Convention Center, endorsing a plan that will create 1.1 million sq. ft. of capacity in a new "convention corridor" - bringing New York back into the top ranks of event host cities. It most recently has been 18th nationally in terms of capacity. Construction is slated to begin this spring.

Gov. George Pataki signed a bill passed by the state legislature in December, advancing a plan that many city and state leaders had supported. But the vote omitted plans for a new 75,000-seat stadium for the New York Jets football team that Mayor Michael Bloomberg and other supporters wanted to link to the convention proposal, in hopes of helping both win approval. Now, it appears, the stadium is running on a separate track, though it also had moved ahead with a recent vote of support from the Empire State Development Corporation.

According to a press release, the expanded center is expected to generate nearly $50 million in additional annual tax revenue for the city and state. It could also serve as a stimulant for redeveloping the 59-block Hudson Yards district, whose rezoning is under consideration by the New York City Council.

The first phase of expansion would increase exhibit space from 760,000 sq. ft. to 1,100,000 sq. ft., while creating the largest ballroom in the city, with a capacity of 6,000 people. The city and state would each contribute $350 million, while the hotel industry would dedicate part of a tax surcharge, generating another $500 million. A second phase to bring the total space up to 1.7 million sq. ft. - which could incorporate convention uses from the proposed Jets stadium - needs separate financing.

Historic Medical Center Set for Mixed-Use Rebirth

The art deco Jersey City Medical Center - commissioned in 1921 by iconic Mayor Frank Hague on high ground overlooking Manhattan and the Statue of Liberty, and completed 15 years later - is set for a rebirth, according to a press release. Fully vacated last May as the medical center moved to its new Wilzig Hospital on Grand St. in Jersey City, the historic complex is set for a $250 million renovation to create a 2 million-sq.-ft. mixed-use community called the Beacon.

The plan by Metrovest, a New York-based developer that specializes in mixed-use projects and restructuring distressed properties, aims to create 1,200 market-rate condominiums and 100,000 sq. ft. of retail, office, and community space in the eight brick and terra cotta buildings on the 14-acre campus. Other planned features include a child care center, restaurants, a performing arts center, a rooftop pool and spa, a health center, on-site parking, and a museum about the medical center's history.

The complex's stepped setbacks and terra cotta panels were signature architectural elements in what once was the third-largest healthcare facility in the world. The renovation would restore and preserve all of the original façade and art deco finishes, as well as neo-renaissance style interior elements.