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NEW YORK CITY-The New York City Economic Development Corp. has moved one step forward on its Willet’s Point project in Queens. The agency signed two property acquisition agreements and one business relocation agreement with three landowners at Willets Point.

The new agreements amount to 2.7 acres, or 114,239 sf, and nearly double the amount of privately owned land at Willets Point that is now controlled by the City. As GlobeSt.com previously reported, under the City’s plan, the new mixed-use community will include housing units, restaurants, stores, parks, office space, and a public school. The project is said to also provide 18,000 construction jobs and more than 5,000 permanent jobs. NYCEDC has been engaged in active relocation and property acquisition negotiations with many businesses and property owners of all sizes since revealing its redevelopment plans last year, holding more than 100 meetings with such businesses and owners during this period. The total 30-year fiscal impact of the Willets Point redevelopment is estimated to exceed $4.2 billion.

In the past few weeks, the NYCEDC reached a property acquisition agreement with landlord MA Realty, as GlobeSt.com reported, and in late September, the redevelopment plan was approved with moderations at a City Planning Commission meeting, amidst continued calls by City Council members, ACORN, Queens for Affordable Housing, Pratt Center for Community Development, and Queens residents for the Economic Development Corp. to withdraw it and make major changes.

According to Seth Pinsky, in a prepared statement, these latest three agreements “demonstrate EDC’s commitment to working together with local businesses and landowners to achieve fair and negotiated terms.” The recent agreements brings the total land the City controls to almost six acres and Pinsky says “we will continue to work to come to terms with the remaining businesses and realize Willets Point’s potential as an area of major economic growth.”

The City has now reached a total of eight deals bringing the total amount of formerly privately-owned land controlled by the City to more than 5.8 acres, or 254,131 sf. The city already owns 14 acres of the 62-acre site. NYCEDC expects to reach additional agreements before the City Council’s vote next month at the conclusion of the Uniformed Land Use Review Procedure.

The agreements include acquiring 24,739 sf of industrial land from Port Authority as well as acquiring industrial land from “two large landowners,” which equals approximately 89,500 sf. The NYCEDC did not return GlobeSt.com queries by deadline regarding the landowners’ identity.

The sales are contingent upon ULURP approval of the Willets Point Development Plan.Under the City’s plan, the 62 acres at Willets Point will be remediated and prepared for the new mixed-use community. NYCEDC has been engaged in active relocation and property acquisition negotiations with many businesses and property owners of all sizes since revealing the redevelopment plans last year.

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