New York City officially approved the construction of a new 25,000-seat stadium for the New York City Football Club (NYCFC) on Thursday.
The stadium is expected to open in 2027.
Located adjacent to the New York Mets’ Citi Field, this $780 million stadium will be the centerpiece of a comprehensive 23-acre redevelopment plan in Willets Point.
This project will deliver the city’s first professional soccer-dedicated venue and include new housing, a public school, retail spaces, and a hotel.
Marty Edelman, vice chairman of NYCFC, expressed enthusiasm about the development, stating, “Today’s City Council vote gets us one step closer to bringing this promise to life in Queens -– the World’s Borough will be our home for The World’s Game.”
The new stadium marks New York City’s inaugural venue dedicated solely to professional soccer.
Since joining the league in 2015, NYCFC, the MLS 2021 championship titleholder, has primarily utilized Yankee Stadium in the Bronx for its home matches.
Apart from Citi Field, the vicinity of the new soccer venue will encompass the USTA Billie Jean King National Tennis Center, renowned for hosting the US Open.
The approval marks an important shift after numerous failed attempts to revamp the underdeveloped Willets Point, historically known for its automotive businesses.
According to city officials, the stadium’s construction will be privately funded by NYCFC’s ownership group, which includes the Yankees and Sheikh Mansour bin Zayed Al Nahyan, owner of Manchester City Football Club, from the United Arab Emirates.
However, the city’s Independent Budget Office has projected that taxpayers could shoulder an expense of $516 million over the 49-year duration of NYCFC’s lease for the stadium.
Related Companies and Sterling Equities, partially owned by the Wilpon family, former owners of the Mets, are jointly developing the project.
