The city’s Economic Development Corporation just announced another deal with a major landowner at Willets Point, the 62-acre Queens industrial site the Bloomberg administration wants to redevelop. The landowner was Feinstein Iron Works, which owns a 36,000-square-foot lot. With the agreement, the Bloomberg administration now controls about 25 percent of the private land on the site, though more than 60 landowners are without deals.
The City Council must vote on a proposed rezoning by Thursday; however, as of yesterday evening, the administration had yet to commit to a level of below-market rate housing that's satisfactory to affordable housing advocates.
The biggest private landowner, Tully Construction, does not have a deal and is viewed as the largest obstacle to Council approval. read more »