Mayor Eric Adams announced Wednesday a plan to build 2,500 new units of housing, a 250-bed hotel and a $780 million, 25,000-seat soccer stadium for the New York City FC near Citi Field in Willets Point, Queens. That’s a great deal for the Big Apple.
And unlike Gov. Kathy Hochul’s $1.4 billion Buffalo Bills football stadium deal with $850 million in taxpayer subsidies, the stadium for pro soccer’s NYCFC will cost the public nothing: It will be privately financed on land leased from the city.
The new stadium for the reigning 2021 MLS Cup Champions could be finished as early as 2025 — with the housing and hotel development completed by 2027.
The deal also helps make good on Adams’ campaign promises with its affordable housing and a 650-seat public school, at last transforming the 61-acre Special Willets Point District into a new neighborhood. It’s also expected to create 1,550 permanent jobs and 14,200 construction jobs.
Congratulations to Mayor Adams for getting stuff done (without resorting to corporate welfare).