Queens is on the verge of an economic development tidal wave, but if we do not encourage this growth, we stand to lose out on critical opportunities to improve the quality of life for residents.
Willets Point, along with projects underway at Hunters Point South and Flushing Commons, will lead to thousands of new units of housing and job opportunities that will sustain our borough into the 21st century.
As the public approval process for the redevelopment of Willets Point begins — it was certified by the Uniform Land Use Review Procedure in March and is now being reviewed by Community Board 7 — it is important that residents understand how this project will increase economic growth and prosperity for businesses across Queens.
Last June, the city selected the Queens Development Group to redevelop Willets Point into a vibrant, mixed-use neighborhood and destination.
The plan will reverse a century of environmental contamination by remediating 23 acres of land and transforming it into a generator of jobs and economic investment. It will include new retail and housing and a hotel and be facilitated by a $3 billion private investment, the largest in Queens history.
The positive impact of the project will extend from Flushing and Corona to all neighborhoods of the borough. On top of the 3,700 construction jobs that will be created, there will be 7,100 permanent new jobs as well. Hotel workers will be unionized and will be paid a living wage, and building workers and security guards will be paid the city’s prevailing wage.
Many of these jobs will go to Queens residents who will spend money at local businesses every day of the week — not to mention the rest of the thousands of workers who will support area businesses throughout the workweek.
The new retail at Willets Point will also help Queens retain some of the billions of dollars in spending the city now loses to the suburbs, including approximately $1 billion in grocery sales.
Further, visitors to the new Willets Point and its hotel would spend money at local businesses and are likely to be patrons of our great cultural institutions, such as the Museum of the Moving Image and the Queens Museum of Art.
And while New York City is experiencing a dearth of affordable housing options, the development will include 2,500 new housing units, of which 875 units will be affordable. These new residents will spend money at local stores and restaurants, generating even more jobs, investments and revenue for the city.
If this project does not move forward, Queens will miss out on thousands of jobs and a vibrant new neighborhood. We cannot let that happen.
Jack Friedman
Executive Director
Queens Chamber of Commerce
Flushing
