Tag Archives: Queens Development Group

Willets Point property, not part of city’s mega development plans, hits the market


| lguerre@queenscourier.com

Photo courtesy Ana Jimenez/ PropertyShark

And then there was one.

The only property in Willets Point that was not owned by the city and will not be handed over to developers for the neighborhood’s massive revitalization plan has been listed for sale.

The property at 34-09 126th St., across from Citi Field between 34th and 35th avenues, comprises a one-story warehouse on a 20,000-square-foot lot.

An asking price was not disclosed, but offers are being accepted, according to Swain Weiner, president of Greiner-Maltz Investment Properties, which is marketing the site. The property has been popular with investors, because it has a maximum of 130,000 buildable square feet and it will be surrounded by housing and entertainment of the new Willets Point neighborhood when development plans are completed.

“It’s the odd piece out. That’s the beauty of it,” Weiner said. “Just imagine when everything is built.”

The remaining property for sale is in a special zoning district and a variety of projects could be built there, including a hotel or residential structure, Weiner said.

In March, the Sunrise Cooperative, a group of auto shop owners that rented space in Willets Point for their businesses, agreed to move to the Bronx in exchange for $5.8 million.

The Bloomberg administration tapped the Queens Development Group, a joint venture between real estate firms Related Companies and Sterling Equities, for the Willets Point mega project following a request for proposals in 2011.

In the first phase of the plan, a shopping center with 200 stores and other attractions will be built to the west of the baseball stadium, where there is currently a parking lot. Then the area to the east, where all the auto shops are located on contaminated land known as the Iron Triangle, will be remediated.

After the cleanup, developers will build a residential community of 2,500 housing units, 35 percent of which will be affordable, and community facilities, a public school, more retail, a hotel and parking space. The city said that it would create 12,000 construction jobs and another 7,100 permanent jobs once development is complete.

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Borough Board approves $1 sale of Willets Point


| aaltamirano@queenscourier.com

The project to build a shopping center next to Citi Field is on the move.

The Queens Borough Board voted on November 18 to allow the city’s Economic Development Council to sell the 23 acres of land for $1 to the Queens Development Group. The land is needed for the Willets Point project and would be cleaned up to make way for a 1.4 million-square-foot complex which will consist of a mall and housing units with commercial and retail space.

“After carefully reviewing the Willets Point proposal and taking my district’s needs into account, I am confident that this development will be a win for my constituents, a win for Willets Point, and a win for the great City of New York,” said Councilmember Julissa Ferreras, who represents the area and voted yes to the proposal.

All seven councilmembers on the board who were present during the meeting and Borough President Helen Marshall voted yes to the proposal. The only no vote came from Community Board 7’s Chair Eugene Kelty.

“The votes in favor of this proposal give us the unique opportunity to remove the blighted history of Willets Point and ensure it is a place for families to enjoy living and shopping for years to come,” said Ferreras.

The City Council approved the $3 million Willets Point project in October.

 

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