Crain’s reports that Hudson Yards and Moynihan Station “may face new problems in the wake of the resignation of Gov. Eliot Spitzer on Wednesday.”

[Moynihan Station] was already in danger before Gov. Spitzer’s fall from grace because of a funding shortfall for the new Penn Station. However, Mr. Spitzer did support it, and experts say for it to move ahead it needs the same strong backing of the new governor. It’s unclear if Mr. Paterson will want to commit the political capital necessary to push it ahead.

Apart from the change at the top in Albany, some are worried the projects could be delayed because the private developers may be nervous about the gloomy economy and may not be able to get financing. The credit crunch has all but put a stop to big real estate projects… if Patrick Foye is replaced as chairman of the Downstate Empire State Development Corp., that could affect Moynihan Station because that agency is in charge of that project.

Read “After Spitzer: Project Delays?” by Theresa Agovino for Crain’s New York