TF Cornerstone’s long-delayed Queens waterfront project could move forward soon

Ongoing negotiations with Amtrak may be on the verge of wrapping up

Jun.June 01, 2017 04:30 PM

Rendering of Hunter’s Point South (Credit: Office of Design and Architecture via DNAinfo)

A long-delayed project in Long Island City could finally start getting off the ground after being stuck in limbo for years.

The project — an apartment complex with 1,197 units that is part of Hunter’s Point South — was approved about 3.5 years ago but has faced countless delays since then due to a train tunnel and utility lines that run below the site, according to Crain’s.

Developer TF Cornerstone TRData LogoTINY, which was chosen to construct the project in December 2013, changed its building design last year due to these hurdles, but Amtrak and the New York Power Authority still need to agree to the design of the building and ensure that it will not damage their infrastructure.

Amtrak negotiations have been ongoing for more than two years but are almost done. Other components of Hunter’s Point South are also progressing, and the building may be ready to start construction by the beginning of 2018.

The Hunter’s Point South redevelopment would bring a total of 5,000 housing units to Long Island City, and officials expect to finish infrastructure on its second phase next year.

The Department of Housing Preservation and Development issued RFPs for two additional parcels at Hunter’s Point South last June. The affordable housing project is located along the Queens waterfront at 1-50 50th Avenue. [Crain’s] –Eddie Small

(To view more properties in development in Long Island City, click here)

Related Articles

133-25 37th Avenue in Flushing

Developer Gary Tsan buys Flushing property for $60M

The Real Deal interviews TF Cornerstone's Tom Elghanayan at REBNY's 124th annual banquet.

TF Cornerstone exec: How I got over Amazon dumping LIC

South Carolina town puts moratorium on development (Credit: iStock)

The high cost of low taxes: South Carolina town bans all development for 16 months

U.S. Rep. Alexandria Ocasio-Cortez and Sunnyside Yards (inset) (Credit: Getty Images and Wikipedia)

AOC resigns from Queens megadevelopment steering committee

250 North 10th Street and TF Cornerstone president Frederick Elghanayan (Credit: Google Maps)

TF Cornerstone pays $140M for Williamsburg multifamily building

Donald Trump with Rep. Emanuel Cleaver II, Rep. Ron Kind and Sen. Cory Booker (Credit: Getty Images, iStock)

Trump’s Opportunity Zone program is under investigation

The agreement was signed today at UBC’s New York Council offices in Manhattan by Nathan Blecharczyk, Airbnb co-founder, Chief Strategy Officer, and Frank Spencer, General Vice President of UBC.

Airbnb hammers out partnership with carpenters’ union

Fotis Dulos (AP Images/ Erik Trautmann)

Connecticut developer Fotis Dulos charged with murder