Gotham, nonprofit to develop affordable housing project in Hunter’s Point South

Project has $500M price tag and is slated to contain 1,120 apartments

TRD New York /
Nov.November 17, 2017 03:15 PM

Hunter’s Point South Proposal (Credit: Handel Architects)

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


Related Articles

arrow_forward_ios
A rendering of 165 Broome Street (Credit: Handel Architects)

Nonprofit plans affordable housing development near Essex Crossing

Nonprofit plans affordable housing development near Essex Crossing
All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag

All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag

All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag
16 Sutton Place (Credit: Google Maps)

Sutton Place co-op in turmoil over terrace fees

Sutton Place co-op in turmoil over terrace fees
Mayor Bill de Blasio (Getty, iStock)

Developers fume over city plan to cut affordable housing spending

Developers fume over city plan to cut affordable housing spending
Molly Townsend (Getty, iStock)

Ex-Douglas Elliman sales manager Molly Townsend joins Triplemint

Ex-Douglas Elliman sales manager Molly Townsend joins Triplemint
New home listings in Manhattan are up for the 4th week in a row. Contract signings, not so much. (Getty; iStock)

Manhattan resi listings are up while contracts “limp along”

Manhattan resi listings are up while contracts “limp along”
The process for challenging property assessments is so antiquated, officials won’t do Zoom meetings. (iStock)

“A recipe for disaster”: Fighting property taxes in a pandemic

“A recipe for disaster”: Fighting property taxes in a pandemic
102 Prince Street and Jho Low (Credit: Modlin Group; Low by Michael Loccisano/Getty Images for New York Times)

Jho Low’s former Soho condo sells at a discount

Jho Low’s former Soho condo sells at a discount
arrow_forward_ios

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

Loading...