After years of discussion and debate, it appears that the New York City Football Club is beginning to reach the more serious planning stages of bringing a soccer stadium into the city limits. They have everything but an official home, and that may soon change. Standing behind the project include developers like Madd Equities, the New York Economic Development Corporation, the Bronx Parking Authority, and the New York Yankees. The location in question would be mere blocks from Yankee Stadium, whose stadium has been home to the NYCFC’s games in the interim.
How Might a New Stadium Affect the Area?
According to NYC.gov, sports and recreation entertainment represents the smallest number of establishments and overall jobs in the metropolitan area. Just 100 establishments exist, bringing about 3,900 jobs, and this is in comparison to the next smallest number, the arts, with 1,800 establishments and over 18,000 jobs. It also brings in the smallest in terms of output, the only category in six that doesn’t break a billion dollars annually. In addition to that, their 3,900 jobs add up to over $350 million in wages paid each year, which is nearly identical to wages paid in total by the Venues category, which also has over 19,000 employees.
Looking at the numbers as they are, it is very easy to see where adding additional sports establishments, where possible, might also bring more jobs and more profits, especially if these establishments are filling niches that don’t yet exist (in full or in part) in the greater area. The NYCFC’s proposal would do just this by giving a home to New York City’s very first soccer-specific stadium.
The NYCFC Stadium Construction: A Focal Point in a Much Larger Project
Upon finalization, which is expected soon as of the posting of this article, the building of this 25,000-seat stadium will be part of a larger overarching project whose budget is in the ballpark of around $1 billion in total. There is also much more in the planning stages than just a stadium, the scope of which will transform the South Bronx in a number of ways.
With the earliest date of completion projected for 2024 pending imminent approval, the following details are known:
- The current site for construction includes parking lots and an elevator parts factory owned by GAL manufacturing (and an agreement to purchase that property has already been reached).
- The NYCFC’s soccer stadium, with its short distance to Yankee Stadium, can draw more sports fans to the area.
- Also, in the works would be affordable housing units, a school, retail space, and a hotel. This would bring additional housing for visiting teams, a diverse population of local fans, as well as businesses that would stand to benefit from multiple sports entertainment seasons each year.
It’s suddenly very clear why so many development groups are involved in this proposal so far: the number of demo, construction, and landscaping jobs that stand to come out of this could be staggering.