Deadline approaching for railyards

The Related Companies is expected to enter into a contract with the Metropolitan Transportation Authority to develop the West Side railyards by the end of the month, and put down a $50 million deposit for the project. Related has said it is committed to the project, but the Observer reports that the developer has had trouble raising money for it. Related must start paying rent for the site three years after the contract is signed, but the payments could be pushed back an extra two years if construction is delayed.