Plans for a mixed-use development at the site of failed Yankee Stadium parking lots have stalled and the city is no longer pursuing the project, according to the New York Daily News.
The plan had originally called for Jackson Development and Joy Construction to bring retail shops and 550 units of affordable housing to the site, a move the could have pulled Bronx Parking Development, the company that owns and operates the Yankee Stadium parking system, out of bankruptcy.
But for unknown reasons the New York City Economic Development Corporation has now ended ended negotiations with the two companies. However, the city is stil interested in moving forward with new plans, according to Kyle Sklerov, an EDC spokesperson.
Bronx Parking has defaulted on $240 million in tax-exempt bonds. [NYDN] –Christopher Cameron