NEW YORK CITY-The Bloomberg administration has struck a deal with the Related Cos. and Sterling Equities, a real estate firm affiliated with the New York Mets, to construct a one-million-square-foot retail and entertainment complex west of Citi Field. City officials announced Thursday morning that a parking lot adjacent to the stadium will be converted into a vertical shopping complex comprised of 200 stores, a movie theater, restaurants, entertainment venues and a 2,500-space parking garage.
The $1 billion mall development, called “Willets West,” falls under phase I of the redevelopment of the 62-acre zone. Under the plan, the developers are also planning to construct 4.5 million square feet of mixed-use development, including 2,500 housing units, 35% of which will be affordable; 900,000 square feet of street level retail; and 500,000 square feet of office space serving Queens-based businesses. A 280-room hotel and five acres of public space along 126th Street is also in the works.
The announcement follows a series negotiations in which the developer requested less residential housing in favor of more retail space. The entire $3 billion redevelopment plan—which will be built in three phases over the next nine years—will allow for up to 5,500 units of housing a convention center and a central eight-acre park.
The plan marks a significant step forward for the neighborhood. Known for its scrap yards and auto repair shops, Willets Point—which contains no underground sewer system—was rezoned by the council in 2008 to allow mixed-use development. In preparation for the developments, the city began work on $50 million worth of offsite infrastructure work including the construction of a sanitary sewer main and reconstruction of a storm sewer.
In the coming months, the city and the developers will work on an environmental impact statement and zoning text to pave the way for a remediation of the 23-acre site. The city will provide $100 million in capital funds towards the work to expedite the project.
Mayor Michael Bloomberg said the city has made “considerable progress” in acquiring property through negotiated acquisitions with area business owners and now has control of or agreements to acquire approximately 95% of the land needed to proceed with the project. Eminent domain proceedings began in early 2011, and more than 550 participants have enrolled in a worker assistance program administered by LaGuardia Community College and the city to help displaced businesses.
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