New York City Mayor Michael Bloomberg’s announcement of a long-sought $3 billion development project to convert the Willets Point, Queens, junkyard area adjacent to the Mets’ Citi Field baseball park into a five-million square foot retail and entertainment district has triggered reactions that range from positive to skeptical.

Under the proposal, the Queens Development Group, a joint venture between Related Cos. and Sterling Equities Inc., the holding company of New York Mets owner Fred Wilpon, will develop the 23 acres known informally as the “Iron Triangle,” because of its concentration of auto-body shops.

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