The costs of redevelopment at Willets Point have kept the city's plans for the area?large-scale housing and retail development?mostly on ice, but maybe the solution is just to change the plan. And that's now what city officials are trying to do. The Journal and the Times have the deets. Here goes: the Iron Triangle businesses would be replaced, at first, by parking lots for Mets fans headed to games at Citi Field. That would be followed by a hotel and some retail to the east of Citi Field, and then some more retail on the parking lots west of Citi Field. Then, finally, the long-planned 400 apartments and 680,000 square feet of retail could get going.
But nothing's assured?in fact, the plans are very much subject to change. The developers will have to start construction on the last piece of housing at the project by 2025?or they'll have to pay the city $35 million and might be booted from the development altogether. The new plan for Willets is also a significant enough departure from the previous one to require a new environmental review, and thus City Council approval.
· Plan Upends Willets Vision [WSJ]
· Bloomberg Strikes Deal to Redevelop Land Near Citi Field [NYT]
· Willets Point coverage [Curbed]