The envisioned transformation of Willets Point from a scruffy haven for scrap yards and auto shops into a residential, retail and convention megadevelopment will cost "north of $3 billion," a city official said yesterday.
Willets Point rehab tab put at $3B-plus
Lieber added, "This is a big project, you know, you've got 60 acres of land to develop, with very large density of what we're going to do, but you know it's not unrealistic to think that this would be a project that is north of $3 billion ... in excess of $3 billion."...He ventured a "guesstimate" the public costs might be in the $100 million-to-$200 million range.
Yikes. And here we thought the city didn't have any money to spend.
What about the businesses there now?
"We will do everything we can do to accommodate the needs of these businesses," he testified..."But as the mayor said [at his announcement] on May 1, he's not going to let one person be the holdout for the good that's associated with so many other people."