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Old Posted Feb 17, 2010, 3:13 PM
KVNBKLYN KVNBKLYN is offline
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Join Date: Aug 2007
Location: Brooklyn
Posts: 343
I posted this info in the Hudson Yards forum but I think it should go here too. I signed the petition and very much believe the decision to not even build the station shell is stupid and shortsighted, but I wonder if it's already too late. The TBMs are scheduled to finish digging by this summer and the station entrance site has a new building going up on it. If anything, the amount of money it would take to now build the station is probably much higher than the estimate from a few years ago.

From the NY Times:

Quote:
...“We think it should have two stops,” said Steven Spinola, president of the Real Estate Board. “There is substantial growth already taking place near 10th and 41st. For them to quietly let the station evaporate, without anyone telling anybody, is a mistake.”

The station’s status is not exactly news, however. City and transit authority officials say that the station was eliminated from the plans more than two years ago, and it was not a secret. There were newspaper articles and protests by elected officials, including Senator Charles E. Schumer and Representative Jerrold Nadler. The city and the authority did retain an “option” with its construction contractor to build the second station, but that expired in September 2008.

For now, the plan is to continue to cut a tunnel from 34th and 11th to the current No. 7 terminus at Times Square. The tunnel will pass by 41st and 10th, where the second station was to be built.

...

Mr. Spinola said developers like Joseph Moinian and Larry Silverstein and tenants in some of the new towers on 42nd Street had long understood that the station would be built. The board, in fact, is so eager to see plans for it resurrected in these financially trying times that it says local landlords may be willing to provide some cash, say $50 million of the $800 million cost.

...

But not all landlords are up in arms about the omission. Unlike commercial developers, residential developers on the West Side have long said the subway extension was a good idea but not critical to their success.

“It helps residential guys,” said Tom Elghanayan, chairman of TF Cornerstone. “But if it’s not built, it’d be fatal for commercial development. That means no office development in that part of town.”

Cornerstone recently completed and leased a building with 395 apartments on the east side of 10th Avenue, between 37th and 38th Streets. It is now finishing a two-tower building on the west side of the avenue with 865 apartments.

The second station would be on land at 41st Street and 10th Avenue where Related Companies is erecting a large residential tower. “I’m not slowing my building down for it,” said Related’s chief executive, Stephen M. Ross. “We were told there’s no money around at all. God knows, the M.T.A. doesn’t have any money.”
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