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October 3, 2011
Bidders emerge for Willets Point megaproject
Two major developers, as well as the real estate firm of the New York Mets' owners, have submitted proposals to turn the Queens property into a modern venue of entertainment, retail, hospitality and housing.
Crain's NY Business
by Daniel Massey
Two major developers and the Mets' owners' real estate firm are among the firms that submitted proposals for the right to redevelop Willets Point, sources said.
The Related Companies has teamed up with Sterling Equities, which is controlled by Mets owners Fred Wilpon and Saul Katz, to submit a proposal to redevelop the 12.75 acres included in the Queens project's first phase, the sources said. Silverstein Properties, which is building three towers at the World Trade Center site, also threw its hat into the ring.
...City officials would not say how many proposals they received by last month's deadline, but indicated they were satisfied with the quantity and quality of the submissions.
...The city controls about 90% of the land in the phase one area, and has not ruled out using eminent domain to obtain the rest.
NoLandGrab: No word as to whether cash-strapped Forest City, or any Russian billionaire oligarchs, submitted a bid.
Posted by eric at October 3, 2011 4:08 PM