In a complete vindication of the principle, "the people know best," community residents repeatedly warned those advocating the building of large parking garages for the new Yankee Stadium that this was a waste of public money. This also flew into the face of New York City’s public policy of encouraging mass transit over auto use. Today, so many Yankee fans have turned to mass transit that these garages are seriously underused and their operator, Bronx Parking Development, already owns New York City $10.6 million in back rent.

Bronx Borough President Reuben Diaz, Jr. has apparently embraced the idea that a new hotel should be built over one of the new garages. The theory is that the hotel would attract so many guests with cars that it would solve the debt problem of Bronx Parking Development.

A New Hotel May Not Be Profitable

The idea of "keep on building and they will come" is fraught with peril, evidenced by buildings, malls and even mini-cities in China, basking in emptiness. First, the new garages are located in an area which is desolate at night, a moderate distance from the subways and has no immediate attractions for tourists. Second, tourists who come to NYC, for the most part, don’t bring their cars and would not utilize the garages. Third, with the prices of gasoline rising, it’s likely that the number of motorists will decline even further. At best, the proposed hotel would attain a profitable occupancy rate only if the Yankees made the World Series and only for the duration of the series. It is very likely that the new hotel would remain severely underused the rest of the year.

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