The Real Deal New York

Hunters Point development plan to go before community board

Developer looking to win zoning changes, special zoning district expansion
March 11, 2014 02:40PM

Community members will weigh in March 19 on Madd Equities’ planned 12-story Hunters Point development.

The developer must secure a zoning change for the site — currently a parking lot — before construction can commence. One portion of the parcel permits a structure five times the size of the land area. On another part, Madd Equities can only build two times the lot size.

The developer hopes to secure an FAR of 5.0 for the entire site, as well as a special zoning district expansion by one block to include the site, which Madd wants to be part of the area’s outdoor cafe district.

The proposed tower for 11-55 49th Avenue would include 140 rental apartments, 28 of which will be affordable, according to the LIC Post. Ground-floor commercial space spanning 10,000 square feet is also part of the plan, as are 100 accessory parking spaces.

Madd Equities chief executive Jorge Madruga in the past said that 50 percent of the units will be two-bedrooms, while the remainder will be split between studio and one-bedroom units. [LIC Post]Julie Strickland