FLUSHING, NY-The New York Mets organization has released additional details regarding its new stadium. Construction is expected to begin later this year and the team anticipates all work will be completed in time for opening day in 2009.

The seven-level, open-air park will feature natural grass and capacity for approximately 45,000 fans within the 1.26-million-sf facility. There will be 8,800 parking spaces on-site and adjacent to the site in addition to 3,680 spaces in lots in the surrounding area.

The Mets estimate the amount of their total private investment to be approximately $550 million. In addition, the city will contribute $90 million in capital funds, and the state will contribute $75 million in addition to rent credits, in order to fund infrastructure costs related to the project. The Mets will enter into a lease with an expected term of at least 35 years.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.