Words by Crain’s, bold by me.
According to the current plan, Related and Sterling could begin building about 2,500 units of apartments, over a third of which would be affordable in 2025. Critics have said that timeline amounts to a bait and switch in a project that originally promised new apartments but has appeared to push that off in favor of building more valuable retail space first. Related and Sterling will have the option to build a second wave of residential development, about 3,300 units, in 2030. The city has said that a vibrant retail development is a key prerequisite to residential development.
via Willets Point mega-plan gets green light | Crain’s New York Business.
