Twenty-Nine Respond to New York City�s RFQ for Willets Point Redevelopment
The New York City Economic Development Corporation recently announced that it has received 29 responses to its Request for Qualifications for groups interested in redeveloping the 62-acre Willets Point District in Queens, New York.
The responses came from a variety of commercial, residential and mixed-use developers from across the United States. From the 29 responses, NYCEDC will develop a short list to receive a future Request for Proposals. RFQ respondents will first be evaluated based on their experience in developing similar large-scale projects and other criteria to determine eligibility to receive the RFP.
“The quantity and quality of these responses are strong indicators that the development community has confidence in the successful redevelopment of Willets Point despite current economic conditions,” said NYCEDC President Seth W. Pinsky.
The city is moving forward with a staged development strategy for the Willets Point District which will create the city’s first “Green Neighborhood” with over 5,500 residential units and creating more than 5,300 permanent jobs and 18,000 construction jobs.
The RFP is set to be issued this year and will seek development proposals for the southwest portion of the district, which will include approximately 18 acres of development area. The maximum development for this area includes 980,000 sq ft of destination and entertainment retail; 2,000 unit of mixed-income housing; 500,000 sq ft of office space; 400 hotel rooms; a school; open space and parking.
NYCEDC currently has agreements with property owners that give the city control of approximately 75% of the land in the area that will be developed first, and continues to reach out to business and property owners throughout Willets Point to negotiate fair acquisition agreements as well as engaging in active relocation planning with businesses slated to move to College Point, Queens and has initiated the design process for off-site infrastructure improvements needed to support redevelopment.