Interesting. I am not a real estate developer but I do wish that the city would take out some loans on my behalf to support my blogging business. Is it odd to expect me to pay for operating my own enterprise? I dunno, I probably don’t know what I’m talking about here but once again I feel like The Stonecutters are up to something.
According to Crain’s, the cost of building affordable housing on city-owned land clocks in at about $350,000 per unit, so the Willets Point project could cost about $385 million. Much of that price tag will be paid for by government bonds or loans.
Source: Willets Point | Related Companies | Wilpon Real Estate