MTA looks back to other Hudson Yards bidders

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The MTA says it will only negotiate with developers who have already bid on Hudson Yards, now that a $1 billion deal with Tishman Speyer is dead. Tishman had tried to change the terms of its deal to delay any payments until after the western side of the yard was rezoned, which could take 18 months. The cash-strapped MTA can’t afford to wait for money: it needs to close a $700 million gap in its 2005-09 capital program. However, Assemblyman Richard Brodsky and other critics say it should wait for the economy to improve, and should work with a plan to coordinate all West Side development. [NYT] and [NYDN]

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