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
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.