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Revenge of the Megaprojects

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Staten Island is getting yet another massive new development. Seven hundred acres once slated to become a NASCAR race track will be turned into a commercial development and 260-acres of restored wetlands. International Speedway Corp. purchased the property back in 2004, and the company sold it to Staten Island Marine Development for $80 million. It will become a "a fully functioning marine station" with new piers and warehouses. This megaproject joins the Staten Island Wheel and accompanying complex, a 900-unit residential project in Stapleton, and a 65-acre project in Charleston. The other boroughs may forget about Staten Island, but developers clearly don't. [Crain's; photo via NY1]