$850M Flushing development approved

TRD New York /
Jul.July 29, 2010 06:00 PM

Rendering of Flushing Commons

A proposed $850 million mixed-use development was approved for
Flushing, Queens today, after fierce debate between small business
advocates and the pro-development set. The project — known as Flushing
Commons — is spearheaded by developers the Rockefeller Group and TDC
Development and Construction Corporation and will bring 600 units of
luxury housing, a hotel and 420,000 square feet of retail space to
Downtown Flushing. It has met with controversy
in the area, particularly among community groups that fear big
businesses will push out neighborhood-based retailers. Daniel Kung,
co-president of Union Street Small Business Association, said that not
enough provisions have been made to ensure the community’s financial
stability in the wake of the development.

“As a small business
owner and Flushing resident, I have been concerned about the impact of
the construction and pleaded to the City to provide a safety net for
our businesses,” Kung said. “However, we are disappointed that the City
and the developer have failed to finalize a concrete and workable
solution for our small businesses.” Numerous elected officials, however
have celebrated the approval, arguing that the development will bring a
much-needed injection of jobs and business to the neighborhood. “Today
marks a major milestone in our efforts to build on [the neighborhood’s]
vibrancy and position Flushing for long-term economic growth,” Mayor
Michael Bloomberg said. “All told, it will bring 2,600 construction
jobs, 1,900 permanent jobs and more than $700 million in economic
activity annually to the heart of Queens at a time when it’s needed
most.” TRD

 

Related Articles

arrow_forward_ios
Michael Bloomberg and 229 West 43rd Street (Credit: Getty Images and Wikipedia)

Bloomberg moving campaign HQ to Times Square

Rudin Management Company's Bill Rudin, Blackstone's Jonathan Gray and Mike Bloomberg (Credit: Getty Images)

Bloomberg pitches real estate execs at NYC campaign HQ

Michael Bloomberg (Credit: Getty Images, iStock)

Love, hate, and real estate: Bloomberg’s record may polarize voters

Donald Trump and Michael Bloomberg (Credit: Getty Images)

Bloomberg v. Trump: Real estate edition

Donald Trump and Michael Bloomberg (Credit: Getty Images)

Bloomberg v. Trump: Real estate edition

Bloomberg LP renews Grand Central offices

Bloomberg LP renews Grand Central offices

“We created money out of air”: Doctoroff talks High Line, Hudson Yards

“We created money out of air”: Doctoroff talks High Line, Hudson Yards

WATCH: NYC real estate’s week in numbers

WATCH: NYC real estate’s week in numbers

arrow_forward_ios
Loading...