Massive Hallets Point Project Gets Zoning Approval

The City Planning Commission voted unanimously to approve zoning changes that would allow the development of a $1 billion residential housing project on the Astoria waterfront. The proposal by the Lincoln Equities Group would bring nearly 2,700 residential units to the Astoria waterfront. The City Council has until October 10 to make a decision. Another big developer has submitted renderings to the Department of City Planning for an $800 million project, dubbed Astoria Cove. It is spearheaded by the Alma Realty Corp., and would add seven buildings with 1,700 apartment units on the north side of the peninsula. 

What is Hallets Point? It’s a new development planned for the waterfront along the Queens waterfront called Hallets Point, a peninsula that juts out into the East River just south of Astoria Park.

The mixed-use towers would share the peninsula with Astoria Houses and bring along much-needed amenities like a grocery store, retail and plans for a school in the process, according to the developer and representatives from the community, who have long complained about a sense of isolation.

Here are some of the elements of this project:

•     Lincoln Equities is the developer
•     Costs are estimated at $1 billion
•     The development will create jobs though construction and later, retail
•     The mixed-use development is slated to have twelve buildings on ten acres
•     Three of the buildings would be on existing NYCHA property (Astoria Houses)
•     Seven of the buildings would be residential, containing nearly 2,700 apartments
•     483 units would be affordable housing, geared toward seniors
•     2,161 units would be market rate housing
•     A few waterfront townhouses are also planned
•     Heights of the buildings would range from 20 to 40 stories

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The project is situated on 26th Avenue between the waterfront and as far east as 9th Street, and the Astoria Houses development is on the project’s south side.

Other elements of the development include construction of a K-8 public school on the Astoria Houses campus; retail, including a supermarket, drug store and restaurants; and a landscaped public esplanade along the East River. Underground parking is also planned for the development.

City and federal officials are looking for funding from Washington to expand the East River Ferry, pushing a plan that would bring the waterway service to Astoria’s developing Hallets Point peninsula and several other city neighborhoods.

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Another big developer has already submitted renderings to the Department of City Planning for an $800 million project, dubbed Astoria Cove.

It is spearheaded by the Alma Realty Corp., and would add seven buildings with 1,700 apartment units on the north side of the peninsula.

The plan is next up for a vote in the City Council.

Should lawmakers give their approval; the developer will break ground next year. The project is expected to be completed in 2022.

 

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