There is a new $700 million mega-project coming to the South Bronx waterfront, Harlem River Yards. The project, headed by Related Companies in partnership with Somerset Companies and New York City Football Club, would bring New York City its first soccer specific stadium. The stadium would be designed by Rafael Viñoly and would feature seating for 26,000. The project would also feature an affordable housing component with 550 affordable, workforce rental apartments, a 25,000 SF medical facility, 150,000 SF of retail and an 85,000 SF park.
Plans have not yet been finalized but Related Companies is expected to win the RFP. The partnership would pay $500,000 annually on a 99-year ground lease, along with paying $25 million to build a new waterfront esplanade. Harlem River Yards is expected to be completed in 2022.