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Willets Point Redevelopment Clears Big Hurdle

NEW YORK CITY—Making way for a Related-led mixed-use development, 40-60 business owners have signed an agreement to relocate from the Queens site.

By Rayna Katz | Updated on March 10, 2014

NEW YORK CITY—Score one for developers. A group of 40-60 businesses—who call themselves the Sunrise Cooperative—has signed an agreement to relocate from Willets Point, in Queens, to Hunts Point, in the Bronx, according to the Commercial Observer, helping to bring a planned mixed-use development near Citi Field closer to fruition.

The move is a big win for the Related Companies and Sterling Equities as the two firms are planning to build a $3 billion, roughly 60-acre mixed-use development on the Queens site. The complex is slated to include a shopping mall and 2,500 residential units, of which at least 35% will be affordable.

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