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

New York /
Oct.October 20, 2017 10:00 AM

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
Goldman Sachs CEO David Solomon and National Affordable Housing Trust CEO Lori Little (Getty, National Affordable Housing Trust, iStock)
Goldman Sachs to launch fund supporting Black affordable developers
Goldman Sachs to launch fund supporting Black affordable developers
After 17 years, Ossining stops project on technicality: lawsuit
After 17 years, Ossining stops project on technicality: lawsuit
After 17 years, Ossining stops project on technicality: lawsuit
Uptown ATX (Brandywine Realty Trust)
$24M metro station for $3B Texas development breaks ground
$24M metro station for $3B Texas development breaks ground
Grammy winner Pharrell Williams and David Grutman of Groot Hospitality (Getty Images, Groot Hospitality, TripAdvisor)
Pharrell, David Grutman teaming up on 400-key Bahamas resort
Pharrell, David Grutman teaming up on 400-key Bahamas resort
(iStock/Illustration by Steven Dilakian for The Real Deal)
Hochul plan for resi towers is tall order
Hochul plan for resi towers is tall order
From left: Joseph Riever and Christopher Marte (Elizabeth Street Garden, New York City Campaign Finance Board)
After 10-year saga, judge’s delay keeps senior housing unbuilt
After 10-year saga, judge’s delay keeps senior housing unbuilt
Thompson Austin at 506 San Jacinto Boulevard, Austin, Texas (Hyatt)
Don’t call it a comeback: Austin hotels rebound but building never slowed
Don’t call it a comeback: Austin hotels rebound but building never slowed
Donald Trump and Trump National Doral (Trump Hotels, Getty)
Trump planning retail, luxury homes in Doral resort expansion
Trump planning retail, luxury homes in Doral resort expansion
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...