[NYguy]

http://www.observer.com/2010/real-es...-willets-point

Silverstein, Douglaston, Related Vying to Develop Willets Point



By Eliot Brown
April 15, 2010

World Trade Center developer Larry Silverstein, Queens developer Jeff Levine and Related Cos. chairman Stephen Ross are among those seeking to develop Willets Point, the polluted, 62-acre auto repair district next to Citi Field, according to city records.

The names are part of a list of 29 firms released by the Bloomberg administration in response to a freedom of information request made to the city earlier this year. The list includes five firms—Related, Muss Development, the Westfield Corporation, TDC Development and the Macerich Company—that bid in 2006 on the project as part of an earlier solicitation by the city to develop the site. Three of those earlier finalists did not bid this time around, ending their ability to win the development: Forest City Ratner, Vornado Realty Trust and General Growth Properties.

Here's the full list, which includes Mr. Silverstein's Silverstein Properties, Mr. Levine's Douglaston Development, and the Georgetown Company, a firm led by former City Planning Commission chairman Joe Rose:

Albanese Organization

Artimus

Castlerock Partners

Ciampa Organization

CPC Resources, Inc

Douglaston Development

Edward J Minskoff Equities, Inc

Gotham Organization

Hamlin Ventures, LLC

King's Associates Inc

L & M Development Partners

Macerich

Melrose Associates

Muss Development

Related

Richman Group of New York, LLC

Rosenshein Associates/LCOR Incorporated

Settlement House Fund, Inc

Silverstein Properties, Inc

Smart Inc

SSJ Development, LLC

Sterling Equities

TDC Development

The Arker Companies

The Beechwood Organization

The Georgetown Company

Triangle Equites

Triple Five

Westfield Group


...the bulk of the approvals are in place for the development, with the largest apparent hurdles being those of funding: The Bloomberg administration insists it has enough money in its budget to proceed with the project, although some bidders and onlookers are skeptical of this claim given the high cost of acquisitions. The Bloomberg administration has also said that the bidders would pay for the remediation of the development site, although a firm price tag has not been established.

The development is slated to be awarded in three phases, with the most valuable parcel going first, followed by two parcels that are further away from the subway stop at the southern end of the site. The winning bidder for the first parcel would have an option on acquiring the second.