Gotham Organization will team up with a local nonprofit to bring more than 1,000 new housing units to the Queens waterfront.
The city announced on Thursday that Gotham and RiseBoro Community Partnership Inc. were selected to build a mixed-use project in Hunter’s Point South in Long Island City that will contain 1,120 apartments, 900 of which will be affordable for households earning between 30 and 145 percent of area median income, according to the Wall Street Journal.
The $500 million project will be located on two land parcels at 57th Avenue and Second Street and include 93 units of affordable housing for seniors and roughly 30,000 to 40,000 square feet of retail and community space. A medical facility, supermarket and space for arts and culture could be included as well.
TF Cornerstone is also planning a project in Hunter’s Point South project nearby that will contain 1,200 units. Although development has faced multiple delays so far, the company filed the initial permits to build the project in October. [WSJ] – Eddie Small