City Acquires More Willets Point Property
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The city has bought nearly four acres of land in the area next to Shea Stadium known as Willets Point.
The New York City Economic Development Corporation says Sunday it acquired the land for $3.5 million – nearly 10 times the estimated value.
The Bloomberg administration is planning to redevelop the 62-acre site with thousands of apartments, a hotel, and dozens of stores.
The city now controls 45 percent of the land.
Opponents of the plan say the mayor is trying to push out businesses to make room for luxury housing.