Hudson Yards Stadium Legal Challenges Thrown Out

Cablevision Systems Corp. had sued the Metropolitan Transportation Authority, contending it conducted “a sham bidding process” in selecting a bid by the New York Jets to purchase the property. The NFL team wants the stadium to become its new home.

Cablevision, owner of Madison Square Garden, the arena near the proposed stadium site, had submitted a higher bid for the property.

But Judge Herman Cahn sided with the Jets, saying the MTA “did not act in an arbitrary and capricious manner.” His decision also dismissed three other lawsuits brought against the stadium plan by politicians and watchdog groups.

While the Judge called on the City and Jets to give Cablevision time to appeal, this is another positive sign that the stadium may go through.

Cablevision has long objected to the stadium, not for altruistic reasons, but purely economic - a stadium would eliminate Cablevision's monopoly on large events in Manhattan. The new stadium would be huge competition for events ranging from concerts to conventions.

The stadium would also open up land for development in Midtown Manhattan, and would call for more housing and office space to be built. The stadium plan includes an MTA plan to extend the 7 line to the Javits Center, which is sorely in need of subway linkage.

Technorati: Real Estate