Ramps and affordable housing were at the heart of the first quarterly meeting between a local community board and developers of a major Willets Point redevelopment project.
Related Companies and Sterling Equities briefed Community Board 7 on October 17. The meeting was the first of four this year required under a last-minute pledge they made to sway the board towards approval. The joint venture must put $100,000 into a traffic fund for each one missed.
CB 7 Vice Chair Chuck Apelian said the city officially allocated $66 million in its capital budget for the design and construction of traffic ramps that will lead into the transformed Willets Point mixed-use development.
The ramps off the Van Wyck Expressway were necessary to fulfill the affordable housing portion of the major $3 billion redevelopment project.
“The key is that we didn’t have in our hearings any confirmation that there would be money to build these ramps,” Apelian said.
There was also some insight into housing site plans, including affordable units for seniors, Apelian said.
The joint venture is eyeing one location in Flushing near Main Street by the Long Island Rail Road (LIRR) station and plans to build about 235 units in Corona, Jackson Heights and Elmhurst, according to CB 7.
Developers promised the City Council in October they would move up construction of the total 2,500 housing units — 35 percent of which will be affordable — from its original set 2025 date.
They are also discussing plans to expand LIRR service to Willets Point, according to Apelian.
The city currently owns 95 percent of 23 acres in the project’s first phase, according to New York City Economic Development Corp. There is no timetable as to when the remaining properties will be acquired, Apelian said.
“They still don’t own it all and until that time, they can’t transfer the property to the developers, so nothing will move forward,” he said. “It’s going to be an all or nothing proposition.”
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