As expected, the city officially announced the Willets Point redevelopment plan today, an agreement with Related Companies and Sterling Equities. The plan is basically the same as the one that was leaked last month, according to Crain's. The area's redevelopment will begin with the cleanup of 23 acres and the construction of a 200-room hotel. Next will come a mall and entertainment complex, with the tentative name of Willets West, on the parking lot west of Citi Field.
As anticipated, the project's affordable housing component will be pushed back, with the developers set to break ground once they've finished construction on the mall. The current plan is for 2,500 residential units, 35 percent of them affordable, and the developers will be forced to pay penalties?or even be replaced by the city?if they don't break ground by 2025.
· City pulls back curtain on Willets Point plan [Crain's]
· New Plan Calls for Willets Point Redevelopment in Stages [Curbed]
· Willets Point coverage [Curbed]