Thursday, September 06, 2007

"$25 for Yankee Stadium parking" The Real Estate 9/6/7

Apparently, those parking lots that were supposed to relieve local streets of circling Yankees fans are going to cost a lot more than the fee they have been trying to avoid. Today one pays $14 to park. But if you want to park in the proposed garages, it's gonna cost you $25! That is considerably more than free on-street parking, so sought after by today's fans.

Matthew Schuerman reports:

"The estimated cost of building new, more and better parking spaces to accompany the new stadium went up 13 percent to $295 million just since April, when the tax-exempt bond issue first appeared before the city’s Industrial Development Agency for approval, according to application materials.

"The city’s economic development agency thinks that patrons will nonetheless pony up. While officials had been modeling revenues based on $20 to $23 a car this spring, they modeled $25 to make the higher cost pay for itself, according to the official, who spoke on condition of anonymity. Currently, fans pay $14."

Patrons will pony up? They hate paying $14 as it is!

Click the title above to read the full post at the Observer's blog.


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