City Study: Sunnyside Yards Would Make Fiscal Sense
The city has released a study purporting to show that an entire neighborhood composed mostly of affordable housing units built over Sunnyside Yards in western Queens would be economically feasible, despite a complicated construction process and high costs, according to Crain's New York.
The study, released by the city’s Economic Development Corp. on Monday, shows that building over as much as 85% of the 180-acre rail yard would make economic sense, even though it would come at a price tag of between $16B and $19B.
The study included three possibilities for how the site might be developed: one totaling 24,000 apartments; another having residential, commercial and retail space; and a third that would primarily feature cultural or retail destination along with housing.
Gov. Andrew Cuomo has previously opposed the plan citing concerns over pending expansion plans by MTA, Amtrak and New Jersey Transit, all of which have claims to the yard.