New York City Mayor Michael Bloomberg announced a plan Tuesday to turn 60 acres of junkyards and auto salvage shops into a neighborhood that will eventually have 5,500 housing units, 1.7 million square feet of retail and 500,000 square feet of office space, plus a convention center. The property borders the New York Mets’ new stadium.

The area, which is known as the Iron Triangle or Willets Point, is piled high with junk cars and there are no sewers. The ground is polluted from gas and oil spills and will have to be remediated before it can be redeveloped. Bloomberg called it, “one of the bleakest parts"of the city.

Land will be purchased from 65 individual owners. Following environmental reviews and a public approval process, a developer or team of developers will be chosen in the summer of 2008, and construction on the multiyear project could start in 2009.

Source: Associated Press, Karen Matthews (05/01/07)