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Silverstein’s Astoria megaproject ups affordable housing commitment

Innovation QNS still short of council member’s demands

From left: Silverstein Properties' Larry Silverstein and New York City Councilmember Julie Won along with a rendering of Innovation QNS (Getty Images, Julie Won for City Council, Innovation QNS Official Site)
From left: Silverstein Properties' Larry Silverstein and New York City Councilmember Julie Won along with a rendering of Innovation QNS (Getty Images, Julie Won for City Council, Innovation QNS Official Site)

The developers of a $2 billion megaproject in Queens are ceding more affordable housing to the community in another stab at pushing the project past the finish line.

In a letter to the local council member, the developers behind Innovation QNS increased the Astoria project’s affordable housing commitment from 25 percent of the project’s 2,800 units to 40 percent, according to the Queens Daily Eagle. About 500 units would rent at 30 percent of the area median income, while another 600 units would have other income restrictions.

For developers Silverstein Properties, BedRock Real Estate Partners and Kaufman Astoria Studios, the shift is an effort to propel the project forward after facing community and political resistance. Last month, Queens Borough President Donovan Richards recommended against the project, highlighting affordability as an issue.

In a statement made after the additional affordable commitment, Richards said the change “represents significant progress toward” improving permanent affordability.

The Queens BP’s opinion carries weight, but it doesn’t have the same importance as the thoughts of local council member Julie Won. The district’s first-term representative previously said the project didn’t meet her prerequisites, demanding 50 percent of units be set aside for affordable housing.

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The altered affordability component, revealed in a letter the development team sent to Won, still falls short of the council member’s goal. Her office didn’t immediately comment on the letter.

The full City Council almost always votes in line with the wishes of the local member on rezonings. The City Planning Commission approved the project earlier this month; a vote from the council is required to be scheduled within the next six weeks.

Beyond the housing component, Innovation QNS also includes recreational space, 200,000 square feet of commercial space, 250,000 square feet of office space for small businesses and creative industries, and 100,000 square feet of community space. The developers started discussing the five-block project with the community in 2018, launching the largest development in borough history.

— Holden Walter-Warner

Tags
Affordable HousingAstoriaBedrock Real Estate PartnersDevelopmentPoliticsSilverstein Properties