The $3 billion Willets Points plan in New York City that will transform 23 acres into a mixed-use development has gained approval from the City Council. Construction will be done in two phases and will include a mall, rooftop farm, retail space, a hotel and thousands of apartment units.
The project is expected to create 12,000 construction jobs, and generate billions in economic activity. The city has either spent or earmarked about $400 million on the development including the purchase of the land in the northern Queens neighborhood and funded key infrastructure improvements such as sewage and paved streets to an area that was one of the few remaining pockets in the city with neither.
According to a Crains New York report, the city has either spent or earmarked about $400 million on the development during the past five years, including the purchase of 23 acres of land in the northern Queens neighborhood and infrastructure improvements. Last year, the city reached a deal with developers, the Related Cos. and Sterling Equities, to design, construct and operate the massive development.
(http://www.crainsnewyork.com/article/20131009/REAL_ESTATE/131009874)
Related Stories
| Jun 1, 2012
New BD+C University Course on Insulated Metal Panels available
By completing this course, you earn 1.0 HSW/SD AIA Learning Units.
| May 29, 2012
Reconstruction Awards Entry Information
Download a PDF of the Entry Information at the bottom of this page.
| May 24, 2012
2012 Reconstruction Awards Entry Form
Download a PDF of the Entry Form at the bottom of this page.
| Apr 6, 2012
Batson-Cook breaks ground on hotel adjacent to Infantry Museum & Fort Benning
The four-story, 65,000-ft property will feature 102 hotel rooms, including 14 studio suites.
| Apr 3, 2012
Luxury hotel 'groundscraper' planned in abandoned quarry
Would you spend $300 a night to sleep underground? You might, once you see the designs for China's latest hotel project.
| Dec 19, 2011
Chicago’s Aqua Tower wins international design award
Aqua was named both regional and international winner of the International Property Award as Best Residential High-Rise Development.
| Dec 2, 2011
What are you waiting for? BD+C's 2012 40 Under 40 nominations are due Friday, Jan. 20
Nominate a colleague, peer, or even yourself. Applications available here.
| Nov 29, 2011
SB Architects completes Mission Hills Volcanic Mineral Springs and Spa in China
Mission Hills Volcanic Mineral Springs and Spa is home to the largest natural springs reserve in the region, and measures 950,000 sf.
| Nov 28, 2011
Leo A Daly and McCarthy Building complete Casino Del Sol expansion in Tucson, Ariz.
Firms partner with Pascua Yaqui Tribe to bring new $130 million Hotel, Spa & Convention Center to the Tucson, Ariz., community.
| Nov 9, 2011
American Standard Brands joins the Hospitality Sustainable Purchasing Consortium
American Standard will collaborate with other organizations to build an industry-wide sustainability performance index.
