AP source: New deal for area near Mets stadium

Associated Press Modified: May 17, 2012 at 4:30 pm •  Published: May 17, 2012
Advertisement
;

NEW YORK (AP) — A new deal between the Bloomberg administration and a group of developers including the owners of the Mets calls for the remediation and redevelopment of a 20-acre area of the blighted Willets Point neighborhood next to Citi Field, adding retail and ultimately new housing in a time frame that extends past an initial proposed 10-year plan, a person familiar with the agreement told The Associated Press.

The person requested anonymity because the person was not authorized to discuss the matter ahead of an announcement.

Under the agreement, the developers, Related Companies and Sterling Equities, would clean up the area and construct retail stores, including a mall in the Queens neighborhood. Then, no later than 2025, they would start construction on a mixed-use component that would include housing and measure anywhere from 1.3 million square feet up to 4.5 million square feet. The founders of Sterling Equities are Fred Wilpon and Saul Katz, the owners of the Mets.

The redevelopment of the area, currently populated by auto-repair shops and junkyards and lacking infrastructure as basic as sewers, has long been a goal of Mayor Michael Bloomberg's. In 2007, he announced a 10-year initiative that would bring homes and commercial space to the area.

| |

Advertisement


Trending Now



AROUND THE WEB

  1. 1
    Conservative Activist Claims Women Paid The Same As Men Won't Find Husbands
  2. 2
    Report: Thunder to open playoffs on Saturday
  3. 3
    Former Sonics guard Gary Payton: Durant, Westbrook 'the new era'
  4. 4
    GOP consulting firm employee starts 'Boats 'N Hoes PAC'
  5. 5
    Why One Man Traveled Almost 3,000 Miles To Take On The Federal Government At A Ranch In Nevada
+ show more