Fetner, Lions Group and city take next steps for LIC affordable housing complex

Filing may be for one of two buildings at Queens site

New York /
Apr.April 26, 2019 03:00 PM
The development site and rendering of 27-01 Jackson Avenue

The development site and rendering of 27-01 Jackson Avenue

Fetner Properties and Lions Group NYC are moving forward with their plans for a new mixed-use complex in Long Island City.

The partners pre-filed an application with the city to convert a vacant lot at 27-01 Jackson Avenue into a 27-story tower with 139 residential units, a portion of which will be affordable, and retail space on the first floor.

The project, which will also have a second building, is a partnership with the city’s Department of Housing Preservation and Development and the Department of Citywide Administrative Services.

The building’s total size would cover some 191,700 square feet, with 91 parking spaces across the first three levels and residential units starting on the sixth floor.

Fetner and Lions did not immediately return requests for comment.

The tower is one of two planned as part of the project for Jackson Avenue, located near the Queensboro Bridge approach ramps.

Plans for the other, at 26-32 Jackson Avenue, have yet to be filed with the building department. That building will be 49 stories tall with about 249 market-rate and 112 affordable apartments.

Both buildings went through the city’s Uniform Land Use Review Procedure, receiving final approval in December.

The city sold about 362,700 square feet of air space to the developers in exchange for the affordability component and a cash payment based on the average square foot rates for local residential sales, according to New York Law School’s CityLand.


Related Articles

arrow_forward_ios
Union Square Park to gain 2 acres in $100M plan (Getty_

Union Square Park to gain 2 acres in $100M plan

Union Square Park to gain 2 acres in $100M plan
Kirk Goodrich, president of Monadnock Development, is opposed to the bill sponsored by Bran Lander. (Getty, Monadnock Development)

Council bill favoring nonprofits for affordable housing will hurt minority-led firms: developers

Council bill favoring nonprofits for affordable housing will hurt minority-led firms: developers
TF Cornerstone President Frederick Elghanayan with 2-10 54th Avenue and 55-01 Second Street in Long Island City (Google Maps)

The 10 biggest new project filings in NYC

The 10 biggest new project filings in NYC
Neil Shekhter (Shekhter by Kevin Scanlon; iStock)

Santa Monica mega-portfolio officially hits market

Santa Monica mega-portfolio officially hits market
A rendering of 250 Water Street and Howard Hughes Corporation CEO David O'Reilly (SOM; Getty; iStock)

Howard Hughes’ Seaport project dealt major blow

Howard Hughes’ Seaport project dealt major blow
Ray McGuire photographed by Axel Dupeux.

The Closing: Ray McGuire

The Closing: Ray McGuire
SK Development's Scott Shnay and Ironstate's Michael Barry (Google Maps, Scott Shnay via LinkedIn)

Noho offices move forward where city wants housing

Noho offices move forward where city wants housing
Gov. Andrew Cuomo and Brookfield’s Brian Kingston with the High Line and the Moynihan Train Hall (Getty)

New High Line section will connect to Moynihan Train Hall

New High Line section will connect to Moynihan Train Hall
arrow_forward_ios

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

Loading...