Despite the weak hospitality market, a Japanese hotel company is moving ahead with plans to build a 699-unit hotel across the street from the Citibank tower in Long Island City, Queens, which if built would become the city’s largest hotel in the outer boroughs. The hotelier Toyoko Inn filed an application this month with the Department of City Planning seeking approval for a floor area bonus in exchange for building subway improvements, according to agency documents. The company bought the five parcels, with addresses 24-05 to 24-19 Jackson Avenue near 45th Avenue, in October 2007 for $17.75 million, records show. In May 2008, the hotel filed plans with the city Department of Buildings for the towering structure. [more]