TF Cornerstone bags massive Hunter’s Point South build: PHOTOS
The city has chosen TF Cornerstone and nonprofit Selfhelp Community Services to develop Hunter’s Point South’s second phase, with ODA Architecture handling the project’s design.
This stage of the project lining the Long Island City waterfront is to consist of a 36-story and 41-story apartment building with a total of 1,193 units between them, 400 of which will be market-rate, officials told Crain’s. The remainder will be affordable, most slated for moderate-income families.
The project will be the last such mixed-income project during Mayor Michael Bloomberg’s term, according to city Housing Preservation and Development Commissioner RuthAnne Visnauskas.
“The city saw this as an opportunity to build middle-income housing and really reach a demographic that doesn’t get financed by many of our programs,” Visnauskas told Crain’s. “It is really servicing people who make the city live and breathe.”
Low-income seniors are slated to receive 100 of the roughly 800 affordable units, with the remaining 700 designated for families making from 105 percent to 155 percent of the median income for the area, which for a family of four would be between $111,670 and $141,735 annually.
The overall Hunter’s Point South development is to be the city’s largest affordable housing project since Co-op City in the Bronx and Starrett City in Brooklyn were finished more than 30 years ago.