http://irontriangletracker.com/2009/...-council-vote/
City makes first Willets deals since City Council vote
May 26, 2009
by Stephen Stirling
The city made agreements to acquire two new properties at Willets Point, marking the first such deals to take place since the City Council approved a redevelopment plan for the community last year, the city Economic Development Corporation said Tuesday.
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NYC ECONOMIC DEVELOPMENT CORPORATION REACHES NEGOTIATED PROPERTY ACQUISITION AGREEMENTS WITH TWO ADDITIONAL
WILLETS POINT BUSINESSES
City Now Controls Nearly 65% of Property in Willets Point
New York City, May 26, 2009 – New York City Economic Development Corporation (NYCEDC) today announced it has signed property acquisition agreements with two additional property owners at Willets Point, Queens. The acquisitions announced today total 34,403 square feet, bringing the amount of land now controlled by the City to about 40 acres, or 1,742,400 square feet. The agreements are the ninth and tenth negotiated land acquisitions in Willets Point, also known as the Iron Triangle.
“We are pleased to be making good on our promise to acquire as much land in Willets Point as possible by negotiated acquisition. These two agreements are further proof of the City’s commitment to work with property owners and businesses to reach fair terms of acquisition,” said NYCEDC President Seth Pinsky. “We will continue to work with the remaining land owners and businesses as we move forward with our plans to transform this blighted area into a center of economic opportunity and job creation and a 21st century neighborhood.”
NYCEDC reached acquisition agreements with 126 Willets Point Boulevard LLC and German Diaz Auto Repair. 126 Willets Point Boulevard LLC owns two parcels totaling 30,403 square feet. One parcel is on Willets Point Boulevard, the other is on Roosevelt Avenue. German Diaz Auto Repair owns 4,000 square feet of property at 37th Avenue.
NYCEDC will continue to reach out to business and property owners in Willets Point to negotiate fair acquisition agreements. NYCEDC has also been engaged in active relocation negotiations with many businesses of all sizes since announcing the redevelopment plans.
Under the City’s plan, which completed the public review process in November 2008, the 62 acres at Willets Point will be transformed from a highly contaminated industrial area into an exciting new, mixed-use community that will include housing, restaurants, stores, parks, and a school. The project will also create about 18,000 construction jobs and 5,000 permanent jobs.