Jones Lang LaSalle
Stadium Deal Moves Ahead on Two Fronts
By Eric Peterson
EAST RUTHERFORD, NJ-The deal to build a new stadium complex for the New York Giants and Jets in the Meadowlands Sports Complex and new practice facilities for both teams (on-site for the Giants and off-site for the Jets) has taken a step forward on two fronts. As reported by GlobeSt.com last month, the two teams and the state had finally agreed to agree on the deal for the $1-billion, 80,000-seat venue, which would replace the existing Giants Stadium that both teams share.
Now, the two teams and their teams of architects have unveiled more detailed site plans for the mixed-use project. The stadium, which will rise just to the northeast of the existing stadium, will be surrounded by a 40-foot-wide pedestrian plaza, nearly twice the width of the plaza around the existing stadium, according to details unveiled by Mary Musco, a Giants exec in charge of sports development projects. Lining the plaza will be halls of fame for the two teams, as well as team stores, restaurants, concessions and entertainment venues.
The parking areas will also be rearranged, with the land occupied by the existing stadium reverting to parking lots after it’s eventually demolished. The parking lot layout will also include specific tailgating areas and pedestrian walkways to expedite pre-game flow. The site will also feature enhanced vehicle flow features that will direct drivers to the nearest lots to their entry point. "Fans will still be able to park where they want, but they’ll have to make that decision before they enter the stadium complex, rather than after they enter," says Greg Del Rio of Vollmer Associates, a traffic consulting firm.
And as far as identity, the problem of the Jets playing in a blue-colored stadium changed only with some green bunting on the inside on game day will be solved through the use of light-emitting diodes, video boards and electronic signage. According to Bill Johnson of 360 Architecture, the system will allow the entire facility to be converted from Giants’ blue to Jets’ green on very short notice.
According to Carl Goldberg, chairman of the New Jersey Sports & Exposition Authority, the state agency that owns and operates the Meadowlands Sports Complex, the unveiling of the plans will now pave the way for a series of environmental and architectural hearings slated to begin this summer. Pending the outcome of the hearings, all sides hope to break ground in March 2007 and have the stadium completed in time for the 2009 season.
In the second step forward, the NJSEA’s board has approved a resolution to spend $20 million to buy the 20-acre site in Florham Park, NJ that will house the Jets’ new headquarters and practice facility. The Jets opted for the Florham Park site in late March, picking it over four other contending locations in North Jersey.
The headquarters/practice facility deal approved by resolution calls for the Jets to contribute $200,000 a year as payment in lieu of taxes for the site. According to Goldberg, the state can expect to recover its $20-million investment in about two years, combining the payment in lieu of taxes with additional annual revenues, including state income taxes. The Jets’ complex is expected to be completed and occupied in about a year.
Copyright © 2006 ALM Properties, Inc. All rights reserved. Reproduction in whole or in part without permission is prohibited.
Stadium Deal Moves Ahead on Two Fronts
By Eric Peterson
EAST RUTHERFORD, NJ-The deal to build a new stadium complex for the New York Giants and Jets in the Meadowlands Sports Complex and new practice facilities for both teams (on-site for the Giants and off-site for the Jets) has taken a step forward on two fronts. As reported by GlobeSt.com last month, the two teams and the state had finally agreed to agree on the deal for the $1-billion, 80,000-seat venue, which would replace the existing Giants Stadium that both teams share.
Now, the two teams and their teams of architects have unveiled more detailed site plans for the mixed-use project. The stadium, which will rise just to the northeast of the existing stadium, will be surrounded by a 40-foot-wide pedestrian plaza, nearly twice the width of the plaza around the existing stadium, according to details unveiled by Mary Musco, a Giants exec in charge of sports development projects. Lining the plaza will be halls of fame for the two teams, as well as team stores, restaurants, concessions and entertainment venues.
The parking areas will also be rearranged, with the land occupied by the existing stadium reverting to parking lots after it’s eventually demolished. The parking lot layout will also include specific tailgating areas and pedestrian walkways to expedite pre-game flow. The site will also feature enhanced vehicle flow features that will direct drivers to the nearest lots to their entry point. "Fans will still be able to park where they want, but they’ll have to make that decision before they enter the stadium complex, rather than after they enter," says Greg Del Rio of Vollmer Associates, a traffic consulting firm.
And as far as identity, the problem of the Jets playing in a blue-colored stadium changed only with some green bunting on the inside on game day will be solved through the use of light-emitting diodes, video boards and electronic signage. According to Bill Johnson of 360 Architecture, the system will allow the entire facility to be converted from Giants’ blue to Jets’ green on very short notice.
According to Carl Goldberg, chairman of the New Jersey Sports & Exposition Authority, the state agency that owns and operates the Meadowlands Sports Complex, the unveiling of the plans will now pave the way for a series of environmental and architectural hearings slated to begin this summer. Pending the outcome of the hearings, all sides hope to break ground in March 2007 and have the stadium completed in time for the 2009 season.
In the second step forward, the NJSEA’s board has approved a resolution to spend $20 million to buy the 20-acre site in Florham Park, NJ that will house the Jets’ new headquarters and practice facility. The Jets opted for the Florham Park site in late March, picking it over four other contending locations in North Jersey.
The headquarters/practice facility deal approved by resolution calls for the Jets to contribute $200,000 a year as payment in lieu of taxes for the site. According to Goldberg, the state can expect to recover its $20-million investment in about two years, combining the payment in lieu of taxes with additional annual revenues, including state income taxes. The Jets’ complex is expected to be completed and occupied in about a year.
Copyright © 2006 ALM Properties, Inc. All rights reserved. Reproduction in whole or in part without permission is prohibited.
posted by Jones Lang LaSalle NJ News Blog at 9:53 AM
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