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NYCFC owners approach a deal to build a stadium in the Bronx

After a seven-year search and several scuttled plans, the New York City Football Club may finally get its own stadium—the city’s first soccer arena—in the South Bronx.

The New York Times reports that the team’s owners are close to reaching a deal with a group of developers including Maddd Equities, to build a 25,000-seat stadium on an old parking lot near Yankee Stadium, on River Avenue, between East 152nd and East 157th streets.

Similar to a proposal that fell apart in 2018, the stadium would be part of a development that will include affordable housing units, retail, and a hotel. The project would need to get zoning approvals first, so the developers tell the Times they expect construction to kick off in 2022, with the stadium completed around 2024.

“It’s long past time to make the underutilized parking lots around Yankee Stadium into something more. The city has been approached by a team of affordable housing developers, the Yankees and the NYC Football Club,” an EDC spokesperson told the Times. “A deal has not been reached, and more conversations are needed. We are hopeful for a future where these lots can better serve the community.”

And in other news...

Over 70 class action lawsuits against landlords who allegedly destabilized units while receiving tax benefits are making their way through court, and could lead to a multi-million dollar settlement.

The Department of Buildings is suddenly cracking down on mom-and-pop shops storefront signs, and business owners feel blindsided.

The MTA missed a deadline on a report that would compare the agency’s operating costs with other transit agencies around the world, lawmakers and advocates say.

Following a spike in traffic deaths last year, the City Council is expected to approve a program to require drivers who accumulate five red-light camera tickets or 15 speed camera violations to take a Department of Transportation safety course.

The Real Deal looks at the rise and fall of New York City’s luxury condo market.

Reconstruction of the South Street Seaport District’s Tin Building is moving forward.

NYC’s long-awaited congestion pricing will now require approval from the Trump administration.