State legislature paves way for $1 billion Astoria development known as Hallets Point

June 28, 2012 04:00PM

Hallets Point, a proposal by developer Lincoln Equities Group to build 2,300 residential units, a park and a supermarket along the East River in Astoria, got a boost from the state legislature recently, DNAinfo reported.

Last week, the legislature transferred the ownership of the land from the State Parks Department to the New York City Housing Authority, which will make it easier to rezone the area, DNAinfo said.

The $1 billion development calls for seven towers with 1,900 market-rate units and 400 units reserved for affordable housing.

“That area lacks many services and this project will revitalize that neighborhood and make it a better place to live,” state Senator Michael Gianaris, who represents the area, told DNAinfo. [DNAinfo]