West Side Rail Yards Deal Delayed, Thanks to MTA

Gotta love it: Yes, the MTA managed to salvage its West Side Rail Yards development plans by agreeing to a deal with developer Related and Goldman Sachs, after it tossed a deal with Tishman Speyer. But even though the agency and Related were planing on to sign a contract for the $15 billion project this week, that's been put on the back burner because the MTA has been, according to the Observer, "slower than expected in producing the needed paperwork." MTA CFO Gary Dellaverson added, "This is my fault—the fault of the M.T.A. This is not a product of either Related or Goldman or their lawyers." Dellaverson added he believed the deal would go through, bad economy and all, "Everything that I've seen, is they're continuing to operate in good faith and pursuant to a desire to consummate the transaction."