The Real Deal New York

City Council gives final OK to Astoria Cove project

Alma Realty agrees to full union labor and 27% affordable component
November 25, 2014 06:03PM

Alma Realty’s massive Astoria Cove project in Queens has passed the muster of the New York City Council.

The development team agreed to rely entirely on union labor for construction and to allot about 460 – or 27 percent — of the 1,723 apartments for affordable housing, the New York Observer reported. Alma also said it would renovate a nearby park and include a new public school and grocery store on the site.

“Now we have a project that is more in tune, and truly reflective of the needs of the surrounding community,” said Council Speaker Melissa Mark-Viverito said prior to the vote. “We have a project that is much more in-tune, and represents community-oriented development. This is the way that we should be going.”

The Committee on Land Use approved the project earlier this month.

News emerged this week that Steve Valiotis, a principal of Alma, allegedly bribed representatives of a Greek bank to get a $5.7 million loan in 1990, as previously reported. [NYO]Mark Maurer

  • Brian Hughes

    So all the people in the projects next door will get to move into brand new luxury apartments and still pay no rent.

    This is where new luxury is built in Astoria….next to the projects. People who know nothing of the area are the ones moving into these buildings.

    • TheWhateverMan

      No one from the projects will be moving in. And if you haven’t noticed, many new developments are in proximity of housing projects – especially in Manhattan – It’s called Physics.

      • Brian Hughes

        You actually have substantial available evidence to prove people from the projects won’t be moving in? You don’t think some of them may win the lottery drawing for the complex?

        In Astoria especially nearly all new large scale developments have been relatively close to the projects. That is what i said, nothing about Manhattan. Why don’t you read the comment thoroughly before contributing.

        They should give people a break on rent for putting them next to nothing worthwhile in Astoria.

        • TheWhateverMan

          Um, no, I don’t have “substantial available evidence to prove people from the projects won’t be moving in.” (lol) It was a comment.
          And I’m not sure if you understood the word “especially,” but I was just pointing out to you that new developments often are built near projects. I mentioned Manhattan because that’s where most have been. So the trend will continue in other boroughs because land around projects is cheaper and available, amongst other reasons..

          Nothing worth while in Astoria? Let’s see: waterfront; transportation; restaurants; nightlife; conveniently/centrally located… hm.

  • ridiculousrealestaterules

    what are “the needs of any surrounding community” some work anywhere from 60-100 hours a week and pay fair market value for their shelter— and a third of occupants dont have to?

  • Ryan L

    Very similar to what happened with East River Tower a few years ago, I have a feeling these apartments are going to end up on the auctioning block when no one buys them. The area has NOTHING to offer someone seeking “luxury”.

  • BartNY

    Where can I sign up for a luxury rental directly across from a sewage treatment plant and where the nearest subway line is a mile away and already at capacity?