Fourth year’s the charm: TF Cornerstone files permits for long-awaited Queens waterfront project

Firm is planning roughly 1,200-unit development on Queens waterfront

TRD NEW YORK /
Oct.October 20, 2017 10:00 AM

Rendering of Hunters Point South (Credit: ODA)

After years of problems and delays, TF Cornerstone has filed the initial permits to build its Hunters Point South project on the Queens waterfront.

Work on the roughly 1,200-unit project began back in late 2013, but TF Cornerstone did not file the first permits for it until Thursday thanks to multiple issues between the developer and local, state and federal agencies that forced a major redesign of the project and almost tripled its construction timeline, according to Crain’s.

TF Cornerstone butted heads with Amtrak early on, as the national train company owns a rail tunnel beneath the site, meaning it needed to approve the project. They also ran into a problem with the New York Power Authority, which had an easement for a power line under the site and would not allow construction to take place on top of it.

The developer eventually agreed to redesign Hunters Point South to keep the center of it open, and an agreement with Amtrak is being finalized that would let TF Cornerstone construct a one-story retail building between the towers. The project will also feature about 800 units of affordable housing and an elementary school.

TF Cornerstone is also working on another megadevelopment in the neighborhood, a $925 million mixed-use project that would include 1,000 apartments, 400,000 square feet of office space and even 100,000 square feet of space dedicated to light manufacturing.

Earlier this week, a large site that could support up to four towers and 1.6 million square feet of development, hit the market in Hunters Point South.  [Crain’s]Eddie Small


Related Articles

arrow_forward_ios
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

Pier 40 and Gov. Andrew Cuomo (Credit: Wikipedia and Getty Images)

Cuomo kills Pier 40 redevelopment plan

arrow_forward_ios
Loading...