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Public-Private Partnership Will Bring Soccer Stadium, 2,500 Apartments to Willets Point
New York City Mayor Eric Adams has forged a public-private partnership with New York City Football Club and Queens Development Group — a joint venture of Related Companies and Sterling Equities — to build 2,500 affordable housing units at Willets Point in Queens. The plan will also bring New York City’s first soccer-specific stadium, a privately financed project estimated at $780 million, to Willets Point.
The 2,500 affordable homes will cover seven buildings, with construction set to begin in 2023. The soccer stadium project will also entail a 250-key hotel and ground-floor retail.
“This is a game-changing moment, not just for Willets Point but for New York City, and we’re grateful to Mayor Adams for his leadership in prioritizing building the affordable housing our city needs,” said Jeff Blau, CEO, Related; and Jeff Wilpon, Sterling Equities. “Willets Point is a prime example of what can be accomplished through public-private partnership.”
- ◦Development
- ◦Policy/Gov't
