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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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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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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