New NY Stadium cost to top $1 billion
Posted: Sunday July 9, 2006 6:52PM; Updated: Sunday July 9, 2006 6:52PM
EAST RUTHERFORD, N.J.(AP)_ The new football stadium that will be home to the New York Giants and New York Jets will be slightly bigger than expected, with new plans showing room for 2,500 more seats.
The cost to build the stadium is expected to increase to between $1.1 billion and $1.2 billion, mostly due to rising construction costs. An earlier price tag had been $1 billion.
And the naming rights to the new stadium, expected to open for the 2010 season, are still opened to the highest bidder.
Those details were all part of an updated master plan submitted by the teams to the New Jersey Sports and Exposition Authority about the stadium that is being jointly financed by the two NFL teams.
The stadium would have 82,500 seats, adding another 1,500 club seats and 1,000 more general admission seats. The updated plans didn't specify the location of the seats or outline the cost per ticket.
The stadium would also be about 20 feet taller than initially planned.
The stadium plan will be reviewed by sports authority's staff and would need to be approved by the authority board. The state Department of Environmental Protection and the Meadowlands Commission will also review the plan.
The commission will hold three sessions on July 12 during which the public will have the chance to comment on the environmental impact of the project, notably traffic and air quality, said Barbara Lampen, a senior vice president for planning and development with the sports authority. She said the commission's review is expected to take about nine months.
Representatives from both the teams and the sports authority will give presentations at the hearing, Lampen said.
In addition to the stadium, plans also call for 520,000 square feet of ancillary development, which may include broadcasting facilities, sports medicine, health and fitness facilities, retail and restaurants.
The 55-acre stadium complex is being conceived for use 365 days a year, with a possible hall of fame, team store stores, themed dining, areas for conferences and club lounges.
The architecture is designed to elicit a town center feel, with sidewalks and pedestrian access.
Carl Goldberg, chairman of the sports authority, said he expects the final agreement between the teams and the state to be signed this summer.
The Giants are also building a 20-acre practice site near the new stadium. The Jets are building new practice facilities and corporate headquarters on 20 acres in Florham Park. The team is expected to move from Hempstead, N.Y., in the summer of 2008.
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