Yankees Plan Pitch for $750M Stadium To Be Located in Macomb’s Dam Park

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The New York Sun

The New York Yankees are reportedly preparing to unveil plans to build a new stadium across the street from “the House that Ruth Built.”


The stadium will cost $750 million and be built in Macomb’s Dam Park, a 28-acre park west of the 161st Street and River Avenue stadium.


The Yankees will release plans in two weeks to build a $750 million stadium and will ask for $450 million in public money to build a hotel, conference center, a new Metro North station, a ferry landing, and three new parks in the Bronx, Crain’s New York Business is reporting.


A spokesman for the Yankees, Howard Rubenstein, said the Yankees had not finalized any plans for a new stadium and were in talks with city and state leaders.


“The plans are advancing but there is work still to be done,” Mr. Rubenstein said in a statement. “And there is no date scheduled for any announcement. After we have consulted with the mayor, governor, Bronx borough president, and other elected and county officials and when we believe the plans all other elements are finalized, we will have something to say.”


Responding to the report, the Bloomberg administration said no plan has been worked out with the Yankees but left the window open for public infrastructure investment.


A spokesman for the mayor, Ed ward Skyler, downplayed the report, saying the city has been discussing a new stadium with the Yankees “for years.” He said the stadium would have to be built “completely with private money.”


Public infrastructure investment, he said, would “have to pay for itself and wouldn’t cost taxpayers a dime.”


Mayor Bloomberg has thrown his support behind a new West Side stadium for the New York Jets. That project would require $600 million from the city and state.


Mr. Bloomberg has said tax revenues and an increase in convention traffic would more than make up the investment.


The Yankees, by far the richest team in baseball, would pay for the stadium with tax-exempt bonds, which would be paid off by stadium revenue, Crain’s reported.


Yankee Stadium, the most heralded sports facility in the country, opened on April 18, 1923, in a game the Yankees won 4-1 against the Boston Red Sox with a home run from Babe Ruth. It was Ruth’s stardom that propelled Yankees owner Jacob Ruppert to build a new stadium, which quickly took on the name, “The House that Ruth Built.”


It was the first ballpark to be called a stadium and the first with a triple deck, according to The Encyclopedia of New York City. The stadium closed in 1974 and 1975 for a $100 million renovation.


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