Unsurprisingly in the wake of the subprime crisis and general market shakiness, much of the Rail Yards dialogue has turned away from design and towards financials.
Of course, guessing is a bit tough, given the MTA's refusal to make the financial bids public (which the HYCAC called for as part of its summary of top community concerns
Background on the financial situations of each of the developers has led to a lot of speculation over which one would be the surest bet for the MTA, an agency that knows its way around fiscal headache.
A Crain's editorial recently endorsed Related and Tishman Speyer for the site, pointing to anchor tenants to add heft to the deal:
"There are no more resourceful, experienced or financially solid real estate companies in New York. Their tenants, News Corp. for Related, and Morgan Stanley for Tishman, offer a strong likelihood the project will get off the ground."
The Crain's site is for subscribers only, but the complete editorial is after the jump.
The MTA still plans to announce a decision by the end of March.