Jun 15, 2012, 11:39 AM EST
I’ve not been to Citi Field, but I’ve flown in to LaGuardia a bunch and have seen the blight surrounding it. It’s a lot of junkyards and derelict warehouses and, presumably, is a wonderful place to stash dead bodies and stuff. But soon it will be shimmering with commerce, hotels and housing:
New York City Mayor Michael Bloomberg’s administration has announced an agreement with a group of developers that includes the owners of the New York Mets to clean up and develop a blighted neighborhood next to the team’s stadium.
The agreement was announced Thursday. It covers a 20-acre portion of Willets Point in Queens, where Citi Field is located.
The developers include the Mets owners themselves, via their company Sterling Equities. And it is estimated to be a $3 billion deal of some kind, presumably with a healthy municipal investment.
Just something else to remember the next time someone claims that a publicly-financed ballpark will spur local development. Sure it will. A decade later and only with a zillion dollars of more tax funds.
- The Padres have talked to the Phillies about Cole Hamels 21
- Why is John Smoltz a shoo-in for the Hall of Fame? 48
- Phillies GM told Ryan Howard they’d be better off “not with him but without him” 85
- Trea Turner’s agent is unhappy his client is in limbo after trade to Nationals 48
- Nexen Heroes accept Jung-Ho Kang posting fee from unidentified MLB team 35
- Giants acquire Casey McGehee from the Marlins 16
- The Padres have given their fans something to talk about. Which is badly needed in San Diego. 64
- Justin Upton traded to the Padres for three prospects 79
- Bud Selig will get a $6 million a year pension. Which is obscene. (145)
- The United States will seek to normalize relations with Cuba (144)
- Rays, Padres, Nationals agree to 11-player trade (97)
- Chase Headley signs a four-year deal with the Yankees worth at least $52 million. (95)
- St. Petersburg City Council votes down deal to allow Rays to look for new stadium site (90)