City seeks to create a Special Willets Point District; local businesses file lawsuit. On April 21, 2008, the New York City Economic Development Corporation and the New York City Department of Housing Preservation and Development began public consideration for their proposal to rezone a 61-acre area in Willets Point.
The area, roughly bounded by the Van Wyck Expressway, Roosevelt Avenue, 126th Street, and Northern Boulevard, is known as the “Iron Triangle” for its predominantly industrial and auto service-related character. According to EDC, Willets Point is in desperate need of redevelopment and suffers from extensive environmental contamination, numerous building code violations, poor road and sidewalk conditions, and limited storm and sanitary sewer infrastructure. EDC’s proposal seeks to transform this area into a mixed-use district complete with residential, retail, hotel, convention center, entertainment, and commercial office uses. 4 CityLand 165 (Dec. 2007). (more…)
Concerns over eminent domain dominate hearing. On November 29, 2007, the City Council’s committees on Land Use and Economic Development held their second oversight hearing on New York City Economic Development Corporation’s proposal to redevelop 61 acres of Willets Point in Queens. The site, located directly east of Shea Stadium, largely consists of a range of auto-related, light industrial and manufacturing private businesses. EDC seeks to acquire the entire area and create an urban renewal plan for a new 8.9 million-square-foot mixed-use development. 4 CityLand 87 (July 15, 2007).
At the hearing, EDC President Robert Lieber testified that EDC is working with Willets Point businesses on a relocation plan by which the businesses would move to private property or City-owned or controlled property. Lieber also stated that some businesses have already agreed to relocate so long as EDC purchases similar industrial property on their behalf. Moreover, to address potential job losses, Lieber announced that EDC would work with LaGuardia Community College and run a workforce assistance program. (more…)
Business owners criticize EDC’s $3 billion remediation and redevelopment plan for a new Willets Point. Image: NYC EDC.
Concerns over displacement of businesses dominated hearing. On June 13, 2007, the City Council’s Land Use Committee and its Economic Development Committee held a joint oversight hearing on the proposal by New York City’s Economic Development Corporation to redevelop 61 acres of Willets Point in Queens. The site, located directly east of Shea Stadium, is mostly privately owned and currently home to a mix of automobile related, light industrial and manufacturing businesses. EDC estimates that 250 businesses employing about 1,300 people operate from the area. Much of the site lacks paved roads, sewers, or sidewalks and is heavily contaminated from illegal dumping, leaky underground tanks, and spills.
EDC President Robert Lieber presented a redevelopment plan for the area, which would remediate the environmental contamination and raise the grade to bring the area out of the 100-year flood plain. After gaining control of the property, EDC would seek to rezone it from industrial (M3-1) to mixed-use (C4- 4) with a special district overlay, remap many of its streets, and create an urban renewal plan to guide future development. EDC plans to start the public approval process in fall 2007, allowing it to select developers to implement the plan in summer 2008. (more…)
When Robert C. Lieber left the New York City Economic Development Corporation to replace Deputy Mayor Daniel L. Doctoroff, Mayor Michael R. Bloomberg appointed Seth Pinsky to lead EDC through the end of the administration. As EDC President, Pinsky must now shepherd through such legacy projects as World Trade Center, Hudson Yards, Yankee Stadium, and Willets Point. Less than a month after his promotion, and with less than 700 days remaining in the Bloomberg Administration, Pinsky discussed with CityLand EDC’s goals and challenges.
Investment Banking and Big Law. As a sophomore in high school, Pinsky spent a summer working in the library of an investment bank founded by James Wolfensohn, who would later become President of the World Bank, and former Federal Reserve Chairman Paul Volcker. Pinsky moved to the City to attend Columbia University, where he graduated with a degree in Ancient History. Upon graduating from college, he returned to the bank as an analyst, focusing on mergers and acquisitions. Looking back, he sees his banking days as a detour— albeit a beneficial one for the financial skills he gained—from his longstanding goal of going to law school and working for the government. After two years at the bank, Pinsky left to attend Harvard Law School. (more…)
