From the Queens Chronicle:
Start-up on Flushing Commons is more problematic. Although the city gave TDC the go-ahead last July to redevelop the parking lot site, Meyer said the firm is looking to have all the necessary financing in place first. “The market is weak now,” he said. “We are focusing on bringing capital from China.”
He hopes work can begin in a year. About six months to a year after that, TDC will raze its Flushing Mall on 39th Avenue to make way for interim parking during construction of Flushing Commons. The developer said it’s too early to know how the mall site will be used following completion of Flushing Commons.
TDC was also one of two finalists in the city’s plan to redevelop the 60-acre Willets Point area several years ago, but now the city is dividing the project into three phases and is again seeking requests for proposals from developers, which are due in August.
“It’s not fair,” Meyer said. “We spent $500,000 on the first proposal, but we have to start again.”
However, since his firm is so familiar with the site, Meyer believes TDC is ready for the challenge. “There may be a lot of interest and submissions, but I question whether there’ll be many teams capable of pulling off such a challenging large-scale project with a plan that can be truly feasible in the marketplace,” he said.
So you're having trouble getting Flushing Commons off the ground but you think you can handle Willets Point? Sad thing is I bet the City gives it to them...