NEW YORK CITY—The city project to build up a relatively undeveloped area in Willets Point, where individual automobile repair shops had set up shop, will soon begin construction of its first phase. The $3 billion plan, initiated during Mayor Michael Bloomberg's administration, has been significantly modified, eliminating its original 200-store mega-mall and garage ambitions.
Instead the Willets Point development will prioritize constructing three buildings that will house 1,100 affordable apartments. Of these homes, 220 will be for low-income seniors, 99 will be for formerly homeless families, and 781 will be for families of three with specified numbers of units set aside for various income brackets ranging from $25,770 to no more than $111,670.
The prior plan had included 2,500 housing units, of which 875 were to be affordable.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
