The city took possession of 30 acres of western Queens riverfront property this month where it is creating plans to build the city's largest middle-income housing project since the 1970s, known as Hunters Point South.
The Port Authority of New York and New Jersey and the state's Empire State Development transferred 30 acres of waterfront property in Queens May 20 to the city, which is planning to erect that city's largest middle-income housing project since the 1970s.
The site is known as Hunters Point South and runs from 50th Avenue south to Newtown Creek. It was known previously as the third and fourth stages of Queens West, the first two stages of which are being developed by Rockrose Development and AvalonBay communities.
A story by Adam Pincus in yesterday's edition of therealdeal.com said that Port Authority spokesperson Steve Coleman put the sales tag at $100 million for the 30 acres and that the transfer would be in two parts.
The 30 acres can accommodate about 5,000 residential units according to plans approved last November by the City Council and about 60 percent of those units are supposed to be affordable to middle-income residents.
The Port Authority of New York and New Jersey and the state's Empire State Development transferred 30 acres of waterfront property in Queens May 20 to the city, which is planning to erect that city's largest middle-income housing project since the 1970s.
The site is known as Hunters Point South and runs from 50th Avenue south to Newtown Creek. It was known previously as the third and fourth stages of Queens West, the first two stages of which are being developed by Rockrose Development and AvalonBay communities.
A story by Adam Pincus in yesterday's edition of therealdeal.com said that Port Authority spokesperson Steve Coleman put the sales tag at $100 million for the 30 acres and that the transfer would be in two parts.
The 30 acres can accommodate about 5,000 residential units according to plans approved last November by the City Council and about 60 percent of those units are supposed to be affordable to middle-income residents.
Architecture Critic
Carter Horsley
Since 1997, Carter B. Horsley has been the editorial director of CityRealty. He began his journalistic career at The New York Times in 1961 where he spent 26 years as a reporter specializing in real estate & architectural news. In 1987, he became the architecture critic and real estate editor of The New York Post.
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