Project Details

✔ Project has been published!

Results Chart for Delivery Method and Financing

Delivery Method

DBFOM All Private Finance
# of Projects: 1
100% of the Results

Background informationProject Created: June 4, 2010

Project Name: New Meadowlands Stadium
Year in Operation:
Sector: Buildings
Subsector: Sports Venue
Status: Design / Construction
Type: New Facility
Description: The new $1.6 billion football stadium for BOTH the NFL New York Jet and the New York Giants, with a seating capacity of 82,500, 200 luxury suits, and a number of club seats. The playing surface will be field turf. The project includes onsite parking for 25000 cars. The design includes an outer alujminum skin of louvers and interior lighting that will change the colors on the stadium depending on which team is playing at home.
Delivery Method as described in the country where it's located: Design Build
Is the project still active: Yes
Comments: Design Build delivery, with Skanska AB having overall responsibility for both, and with 360 Architecture providing design

Project Locations

Address: 50 State Highway 120
City: East Rutherford
State:
Country: United States of America

Address: 50 State Highway 120
City: East Rutherford
State: New York
Country: United States of America

Souces of Project Support (Non-monetary)

Checkbox Checked Access to Land: The Owner of the new stadium is the New Jersey Sports and Exposition Authority. The Operator is the New Meadowlands Stadium Company, LLC (which is a JV of the two football teams).
Checkbox Checked Revenue Stream (Cash Flow) Created Through Initial Commitment of Public Sponsor(s): The public owner has executed a 25 year lease for the stadium, with options to extend that could eventually reach 97 years. After the 15th year, every five years, one of the two teams may opt out of the lease, upon 12 months notice to the state. The Meadowlands Rail Line (opened on July 26, 2009) will operate between the newly constructed station and Hoboken Terminal -- with connecting service to Penn Station New York and Penn Station Newark.

Souces of Project Support (Monetary)

Checkbox Checked

From Private Capital Markets Directly to Producers as Debt: Debt incurred by the teams, in part through loan made by the NFL to the teams. There is a strong record of attendance at the previous Meadowlands Stadium, wih paid attendance near 100% since 2001.

Checkbox Checked

From Producers as Equity: Equity also supplied by teams. Undisclosed in amount.

Project Delivery & Finance Method

Project Delivery:
All Public Finance. Public Sponsor contracts for initial design, and separately contracts for initial construction. Public Owner operates and maintains the resulting facility.
Is there an independent checking engineer? Yes
Project Finance Method: All By Private Sponsor

Procurement Approach

Project Component
Qualifications
Based Selection
Request for
Qualifications
Request for
Proposals
Invitation
for Bids
Unsolicited
Proposals

Term for Key Components & Forms of Contract

Project Component
Years
Quarters
Combined Term: Initial Design, Construction, O&M Period
4
0
Forms
Description
Other
Private agreement between Operator and Design Builder. 

Project Value (If and As Known)

Date of Estimated Project Value: April 15, 2007
Project Value
Hard Cost
Hard & Soft Costs
Construction
$1-5 Billion US
(none)

Warning!!!

You are about to delete: .

Confirm Deletion Cancel