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July 4, 2005
New York Olympic Bid Moves Queens Out of Manhattan's Shadow
Bloomberg.com
by David M. Levitt
Read this article to catch up with the the Mets Shea Stadium replacement deal. Burried three-quarters of the way down was this tidbit regarding Forest City Ratner's desire to develop the surrounding commuinty.
`Valuable Property'
Construction of a new stadium "will put a focus on redevelopment of Willets Point, an area that sorely needs it,'' U.S. Representative Gregory Meeks, a Queens Democrat, said in an interview. "That area is too valuable a property to allow a junkyard to be there.''
Thirteen developers gave the city's Economic Development Corp. expressions of interest for the area last November. They include Forest City Ratner, which also is planning a $3.5 billion downtown Brooklyn development that includes a new arena for basketball's Nets.
The proposals include stores, restaurants, recreational facilities inspired by Manhattan's Chelsea Piers complex on the Hudson River, waterfront housing, and a hotel and conference center, an idea central to one of the applicants, the Queens Chamber of Commerce.
Posted by lumi at July 4, 2005 7:47 AM