Real estate interests and the city have put up $750,000 to win a $3 million grant from the federal government to redesign the abandoned plan for a third station for the extension of the 7 subway line to the Far West Side, according to an article by Theresa Agovino today at crains.newyork.com.

The third station would be located at Tenth Avenue and 41st Street. The subway extension, which is expected to be completed by 2013, goes from Times Square to near the Javits Convention Center.

"Real estate executives have been lobbying to restore the station, which they say is critical for the ongoing development of the West Side. Construction executives say the project would create much-needed jobs," the article said.

The federal government, the article continued, "is giving out $600 million for infrastructure projects through the TIGER II Discretionary Grant Program. The program requires that recipients put up a portion of the money. A decision on whether the city will get the grant is expected within the next month."

The grant would be used to redesign the subway station so it could be built even after the completion of the No. 7 line and the station was dropped because of budgetary concerns.

"We want to preserve the ability to build the station, but to do that, it needs to be redesigned," said Mary Ann Tighe, chair of the Real Estate Board of New York, the industry's main lobbying group, the article maintained, adding that "Steven Spinola, president of REBNY, said that unless the current design for the extension is changed, it would not be possible to add the West 41st Street station later without halting service on the line for a prolonged period, which is not likely."

Among the developers who have agreed to put up money are Silverstein Properties and Durst Fetner Residential. The Building & Construction Trades Council of Greater New York, which represents various unions, as well as the Building Trades Employer's Association, which represents contractors, also agreed to put up money.