NYC announces deal for area near Mets stadium

New York City Mayor Michael Bloomberg’s administration has

announced an agreement with a group of developers that includes the

owners of the New York Mets to clean up and develop a blighted

neighborhood next to the team’s stadium.

The agreement was announced Thursday. It covers a 20-acre

portion of Willets Point in Queens, where Citi Field is

located.

It calls for developers Related Companies and Sterling Equities

to construct a mix of retail, hotel and commercial space in a

gritty area made up of auto repair shops and junkyards. Affordable

housing units would be constructed.

Bloomberg says the $3 billion project will create 12,000 union

construction jobs and 7,100 permanent jobs and will generate $4.2

billion in economic activity over the next three decades.

Sterling Equities founders Fred Wilpon and Saul Katz own the

Mets and Citi Field.