Here’s a really interesting article about The Mall. I know all you want to think about is the playoffs, but The Wilpons potentially not having as much money as they may have planned is kind of relevant. I love the part about how there was an opt-out to never build the affordable housing. Shocker.
Anyway, continue to completely ignore this story and just write more articles about how Matt Harvey is The New Seaver.
In the short term however, the developers had intended to move only the parking lot to the Willets Point site, lowering the potential cost of remediation and building in an opt-out clause where they would have paid $35 million to avoid building any affordable housing at all.
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But with the mall now all but off the table, it no longer appears that the developers would be able to fund such a huge undertaking. Developers projected the mall, which also featured a hotel, to bring in $150-200 million in annual revenue.
Source: Can Willets Point Swap A Mega Mall For Affordable Housing?: Gothamist
