NYC to develop area near Citi Field

Updated: June 14, 2012, 10:42 PM ET
Associated Press

NEW YORK -- 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.


Copyright 2012 by The Associated Press

EDITORS' PICKS

  • Desperate Time
    Will the Jets snap their six-game losing streak and beat the Bills on Sunday?
  • Under Fire?
    Giants GM Jerry Reese will take questions from the media on Monday.
  • Jason Who?
    When the Knicks open their season, you may be surprised by who starts.
  • Big Addition
    Lionel Hollins thinks Brook Lopez will be ready for the Nets' opener.
  • Giants Break It Open
    K.C. leads 2-1