Willets Point Development Welcomes First Residents
Queens Development Group (QDG), a joint venture between Related Companies and Sterling Equities, in partnership with city housing and economic development agencies, held the opening of the first 880 affordable homes at Willets Point Commons, with move-ins beginning this month. The event also marked the start of construction on Building 3, which will add 220 affordable homes for low-income seniors.
“We are excited to welcome the first residents to Willets Point after over 15 years of hard work, dedication and public-private partnership to get us to this moment,” said Bruce A. Beal, Jr., president of Related Companies, and Gregory Katz, partner at Sterling Equities, on behalf of QDG. “What started as a vision to transform an underutilized part of Queens into a vibrant, mixed-use neighborhood is now coming to life as families and hardworking New Yorkers move in.”
Delivering the 220 seniors apartments will complete Phase 1 of the Willets Point transformation. Phase 2 will deliver the remaining 1,400 of the 2,500 new affordable homes, along with a new public school, more than 150,000 square feet of public open space, space for local businesses, a new hotel and the city’s first professional soccer-specific stadium.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout