Bloomberg has deal to develop area next to Citi Field

CBSSports.com wire reports
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NEW YORK -- The Bloomberg administration has an agreement with a group of developers that includes the owners of the Mets to clean up and develop a blighted neighborhood next to Citi Field.

A person familiar with the agreement told the Associated Press that the agreement covers a 20-acre portion of Willets Point In Queens. The person requested anonymity because the person was unauthorized to discuss the matter ahead of an announcement.

It calls for the developers, Related Companies and Sterling Equities, to clean the site, then construct development. It would include a mall, and starting no later than 2025, housing units.

The founders of Sterling Equities are Fred Wilpon and Saul Katz, the owners of the Mets and Citi Field.

The gritty area is made up of auto-repair shops and junkyards.

Copyright 2014 by STATS LLC and The Associated Press. Any commercial use or distribution without the express written consent of STATS LLC and The Associated Press is strictly prohibited.
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