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New York

Related, Sterling OK’d to buy Willets Point land for $1

Willets Point rendering
Willets Point rendering

The Queens Borough Board signed off Monday on Sterling Equities and the Related Companies’ acquisition of 23 acres for the $3 billion Willets Point redevelopment project.

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The City Council backed the project last month, but now the city’s $1 sale of land to the developers’ joint Queens Development Group LLC is official. Council member Julissa Ferreras was at first skeptical of the plan, but voted for it after concessions such as increased affordable housing and more funding for businesses’ relocation were made.

A 32,000-square-foot park is to be built and a 250-spot public parking garage will accompany the development’s more than 50,000 square feet of retail space adjacent to the Mets’ Citi Field home. The number of affordable units in the proposal was lifted from 75 to 210. [Times Ledger] — Mark Maurer

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Citi FieldQueensRelated CompaniesSterling EquitiesWillets Point