Major League Soccer Stadium Likely To Land In The Bronx

New York's newest Major League Soccer team is reportedly very close to finding a permanent home. Capital New York got their hands on the details of a deal that would have the New York City Football Club, a franchise co-owned by the Yankees and Manchester City owner and Abu Dhabi royalty Sheik Mansour bin Zayed al-Nahyan, build a new stadium near Yankee Stadium. The 10-acre site includes three bankrupt parking facilities, a portion of 153rd Street, and a commercial building that holds a 400-person elevator company. The club would likely pay $25 million to the Bronx Parking Development, which defaulted on a $237 million loan, and they are in talks to buy out the elevator parts company and relocate it. Negotiations are still underway and no one would comment on the possible deal.

The $350 million development would be financed with city-issued tax-exempt bonds, and the club would get $21.5 million in tax waivers. A 99-year lease would be signed, and only after 38 years would the club start paying the city market rate rent. Involved parties hope to reach a deal by spring 2014 so the public review process could be finished by summer 2015. If all goes as they hope, the 28,000-seat venue would be ready for matches in spring 2018. Until then, the team will play at Yankee Stadium.

The ever-popular SHoP Architects created a preliminary designs of what a MLS stadium in New York could look like, but the club has apparently swapped the firm for another well-known name: Rafael Vinoly Architects. Vinoly is best known in New York for his skyscraper designs (22 Thames and 432 Park), but he has a few sports venues in his portfolio; the Beijing National Swimming Center and the Princeton University Stadium are both Vinoly creations.

Originally, the new soccer stadium was proposed for a part of Flushing Meadows Corona Park, but strong community opposition to losing more parkland made MLS look elsewhere. So Queens, it's pretty safe to say you're in the clear on this one.
· As Bloomberg departs, a soccer arena deal emerges [Capital NY]
· New York City Football Club coverage [Curbed]