Dramatic changes planned near Forest Hills
September 8, 2012 by Mark
Formation of the Queens Development Corporation was announced by Mayor Bloomberg this past week. The newly structured agency is the result of a partnership between Sterling Equities and Related Cos. and will be overseeing an extensive project to reshape the Willets Point in Forest Hills.
The $3 billion dollar project will create 12,000 construction jobs in the building of 5 million square feet of retail, housing space, and entertainment. Remediation and clean-up of toxic material over a 20-acre site is also included in the price.
In addition to the construction employment, the project plan calls for 7,100 permanent jobs to be established, as well as revenue generation of $4.3bn dollars over the next 30 years.
“It is a strong proposal that will allow us to completely transform Willets Point into a vibrant community and destination.”
For residents and businesses in the area, the announcement that the project is moving forward ends speculation and concern that the effort might get delayed or derailed. Not only does the planned development produce jobs and housing but, for businesses such as local printing companies that produce print brochures and flyer printing, expansion of the real estate and retail market is especially good news for the bottom line.
Joe Crowley, a Democrat legislator representing the Queens/Bronx district, said:
“This is going to be a project that extends from Flushing to Corona and really reinvigorates a community that has been struggling.”
One thing that cannot be denied is that the area around Citi Field will have a very different look in the coming decade.