Exclusive Million Dollar Harlem River Yards Mega-Project

When it comes to new developments, stadiums are a rarity in New York City. But today, YIMBY has the first look at an enormous project coming to the South Bronx waterfront, dubbed Harlem River Yards, submitted to the city by a Related-led partnership. The plans would rise adjacent to Somerset Partners’s assortment of new towers already in the works, adding another major affordable housing building, as well as the City’s first dedicated soccer stadium, with 26,000 seats, designed by Rafael Viñoly. The total cost is projected at $700 million.

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The partnership is comprised of Related, Somerset Partners, and the New York City Football Club, which would be the occupying team for the new stadium.

The affordable housing component would come with a 25,000 square foot medical facility in the base, as well as major amenities for the neighborhood’s children. Up above, there would be approximately 550 affordable and workforce apartments created.

While plans have not yet been finalized, YIMBY’s source notes that Related is the likely contender to win the RFP for the site, and with Somerset already working on their towers next door, the partnership and plans are looking very likely. The stadium itself would rise above extant rail yards, which would increase costs by $75 million, but have the beneficial effect of capping rail tracks with vibrant mixed-use development.

Read the entire article here.

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