Real Estate & Property Law

Willets Point Plan

By Alan Ackerman

NY1

The City Council voted late this afternoon 42-2 in favor of the controversial plan to redevelop the industrial Queens neighborhood Willets Point, shortly after the Council Land Use Committee's 19-2 approval of the plan.

One council member abstained from voting.

The $3 billion plan will turn the 62-acre area into a hub with housing, shops, a school, and a convention center.

Yesterday, Mayor Michael Bloomberg reached a deal with City Councilman Hiram Monserrate, who has been one of the project's most vocal opponents.

The agreement increases the amount of affordable housing from 20 to 35 percent and also provides $3 million in relocation aid for local businesses.

City officials on the Land Use Committee approved of the mayor's deal, and said the plan will bring jobs and housing and be a boon to the struggling economy.

“In times of economic crisis, it is good for the city to be investing in our future. I believe this is a good investment,” said Queens Councilwoman Melinda Katz, who represents the area that includes Willets Point.

The city has said it might use eminent domain to remove the other small businesses that do not leave voluntarily.

Here is New York City making a redevelopment attempt which comes at great risk during very uncertain times. One recognizes that in New York, just about any take is valid. However, should this fail, do we look to a national bailout? If projects fail, could impoverished communities obtain the same relief?

Full post as published by National Eminent Domain Blog on November 13, 2008 (boomark / email).