By Serena Solomon
DNAinfo Reporter/Producer
MANHATTAN — For the second time since receiving final approval to develop the West Side Rail Yards in December, the Related Companies has delayed signing its billion-dollar lease with the MTA.
Related first delayed signing its contract for the MTA-owned, 26-acre site — Manhattan's largest undeveloped space — at the end of January, but was given a three-month extension.
Now, according to an MTA spokesperson, Related has delayed the process again with no set date for the developer to sign on the dotted line.
The contract has been renegotiated so that Related is only required to sign the lease when the economy improves based on set benchmarks, the New York Observer reported.
The project would see multiple towers built on the MTA-owned rail yards in Hell's Kitchen, including residential and commercial buildings, as well as public space and a school.
Residents in the area have protested the development of the site since it was originally slated for a stadium to house the New York Jets.
"I don't ever want it to happen," said Kathleen Treat, of the Hell's Kitchen Neighborhood Association.
Like many other community members who have protested the development, she thinks the plan is simply too big for its own good and will never happen.
"I'm not sad, because in a way New York is going to get a terrible deal."
