After building a Metro North stop and jacking regular season parking fees to $35 a game ($50 in playoffs), not to mention weakening attendance, Bronx Parking Development Corp. has retained bankruptcy counsel:
Bronx Parking is in discussions with creditors and isn’t planning a bankruptcy filing, Edward Moran, the firm’s chief restructuring officer, said in a telephone interview.
The garages and lots, which have about 9,300 spaces, have suffered as more fans take public transportation to Major League Baseball games and drivers balk at paying $35 to park. The facilities averaged about 4,000 cars on event days and had an occupancy rate of 43 percent, according to filings. The Yankees have exclusive use of 600 spaces.
In other words, the bond holders are getting nervous.
I can use MNR for free (already have a monthly pass) so it costs me about $10 to take the train to the game. With a family of four, it's worlds easier than fighting traffic (and far more civil) and having my wallet further vacuumed clean.
Can't wait to see the attendance impacts under the Austerity Plan.