Bloomberg Unveils Plans For $3B Queens Redevelopment

Law360, New York (June 14, 2012, 1:52 PM EDT) -- New York City Mayor Michael Bloomberg on Thursday officially unveiled the first phase of plans to remediate 23 acres at the contaminated Willets Point site in Queens and construct a 5-million-square-foot mixed-use neighborhood developed by real estate giants Sterling Equities Inc. and Related Cos.

The Bloomberg administration has long been planning to redevelop the contaminated area, but the project was stalled by the economic downturn, zoning issues and concerns about the cost of cleanup and sustainable building at the site — a floodplain contaminated by petroleum,...
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