After a long, arduous approval process, two large Willets Point businesses have closed on deals to move to the College Point Corporate Park, clearing one more hurdle for the city Economic Development Corp.’s plans to revamp the neglected Iron Triangle into a $3 billion development.
In May, after working on the plan for more than a year, Community Board 7 and the EDC approved a proposal to relocate Feinstein Ironworks, Sambucci Bros. Auto Salvage and T. Mina Building Supply Co. to EDC property at the park.
Since then the businesses have been working with EDC officials to finalize their relocation agreements.
Dan Feinstein, president of Feinstein Ironworks, said the company closed on its deal last week, and Community Board 7 Vice Chairman Chuck Apelian said Tuesday that Sambucci finalized negotiations “a couple of weeks ago” but that he was unsure of the status of T. Mina’s deal.
“We’re very happy to confirm that our relocation contract has been closed as of last Thursday and we look forward to working with the local community and the community board in the years ahead,” Feinstein said. It will be a number of years before the businesses can actually move their operations to the sites, which are located at the southwest end of the corporate park near the intersection of 31st Avenue and College Point Boulevard, as the lots are currently vacant.
“We didn’t officially own the land and so forth and so on. Now that it’s officially closed, we can start formulating a plan for relocating our business,” Feinstein said. “Everything needs to be done. We’re starting from scratch.”
Apelian said Feinstein will be a welcome addition to the corporate park.
“We welcome a new business and we hope they’ll be a good neighbor,” he said.
Julie Wood, a spokeswoman for the EDC, said via e-mail that Feinstein is “moving to a much bigger space, so it’s a great opportunity for their business to grow.”
Feinstein declined to provide details about the financing or specifics of the deal or the new property.
The original plan for moving the businesses, introduced in February 2009, would also have relocated Flushing Towing and Mets Metals, which were slated to move to the north end of the corporate park.
The businesses were dropped from the proposal after they hit snags with CB 7 and the EDC. CB 7 Chairman Eugene Kelty said in May that those two companies’ futures would be hashed out at a later date.
Reach reporter Connor Adams Sheets by e-mail at csheets@cn
©2010 Community News Group
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