The City Council has overwhelmingly approved a controversial plan to redevelop the industrial Queens neighborhood Willets Point.

The measure passed late Thursday afternoon by a vote of 42-2 with one abstention.

The $3 billion plan will turn the 62-acre area near the new Mets stadium, Citi Field, into a hub with housing, shops, a school, and a convention center.

"It will create a place for people to go that will create jobs and revenue that is in desperate need right now," said City Council Speaker Christine Quinn.

A number of the council members said they voted for the plan because Councilman Hiram Monseratte, the representative for the district, finally threw his support behind the mayor Wednesday.

Monseratte was originally against the plan but changed his mind after the city agreed to increase the amount of affordable housing in the plan.

The agreement increases the amount of affordable housing from 20 to 35 percent and also provides $3 million in relocation aid for local businesses.

"It's an absolute winner. Queens wins. This is the number one affordable affordability project ever in the history of New York City," said Monserrate.

City officials on the Land Use Committee approved of the mayor's deal, and said the plan will bring jobs and housing and be a boon to the struggling economy.

“In times of economic crisis, it is good for the city to be investing in our future. I believe this is a good investment,” said Queens Councilwoman Melinda Katz, who represents the area that includes Willets Point.

Mayor Michael Bloomberg praised the plan's approval saying, "For nearly half a century, Willets Point has been an environmentally-degraded area in the heart of Queens, but today, it finally has a brighter future."

The city now controls more than 50 percent of the 62-acre site. However, the city refused to rule out taking the remaining land by eminent domain when it spoke with owners of other businesses still at Willets Point

Because of that, council members Tony Avella and Charles Barron voted no to the plan.

"We have to stand in protest against the abusive use of eminent domain," said Barron.

Local business owners say that they still own the land and do not intend to leave.

“This here is the seventh time that they want to take a piece of property. Economic development, has thousands of acres of city-owned property that they can turn around and develop,” said Willets Point resident Joe Ardizone. “Why are they taking private property? That’s against democracy of the United States.”

"There's 70 landowners out here and 250 businesses that the City didn't even talk to and that it's property is not for sale and is not going anywhere,” said Jake Bono of Bono Sawdust Supply Company. “So they made a deal with Monserrate and all these other parties but we still own the land and we're not for sale and we're not going anywhere."

The city says now that the council has spoken it hopes it can negotiate a deal with all the business owners.

The project will take at least a decade to complete.