For a time, it was doubtful that anything would happen with Lincoln Equities Group's ambitious plans for Halletts Point, a peninsula that juts out into the East River near Astoria?especially after a lot of missteps, revised renderings, and community skepticism?but perhaps we were too cynical, too soon. This week Community Board 1 approved Lincoln Equities' $1 billion plan to put 11 buildings that would range from 11 to 31 stories along a broad swath of the waterfront, according to the WSJ.
In real terms, that would mean circa 2,000 new market-rate residences, mostly 1 and 2BRs with a sprinkling of townhouses. Four hundred eighty three more units would are earmarked as senior citizens' affordable housing. Sweetening the deal for area residents?probably the only reasons CB members voted in favor?the developer has promised to put in an esplanade, parking spots, parks, and retail space (including a big supermarket). Lincoln Equities must ease traffic and help push for better public transport to the area, and eventually build a school.
Before we get ahead of ourselves, though, the developer has to get a thumbs-up from the borough president and the City Council. If all goes according to plan (and there's no guarantee, considering we've been tracing their travails since 2009), then construction would start this year with an estimated 2022 move-in.
There's even more action at Halletts Point. Last month, we reported that a mystery developer submitted a proposal for a different chunk along its northern shore?another megaproject containing about 1,700 units in a mix of towers and townhouses named Astoria Cove. And now the WSJ reports that the investors behind this $800 million project are led by Efstathios Valiotis of Alma Realty Corp. Less far along in the bureaucratic approval process than Lincoln Equities, the Astoria Cove plan will be vetted by the Department of City Planning next week. But at least meetings are going on. Perhaps this time change really does lie ahead for what's been called a 'desolate' stretch of the northern Queens waterfront.
· Halletts Point Gets Attention With Projects [WSJ]
· Community Board 1 supports $1 billion Halletts Point project in Astoria?if developer includes a supermarket and traffic calming [NYDN]
· Mystery Developer Unveils 'Astoria Cove' Plan for Hallets Point [Curbed]
· All Halletts Point coverage [Curbed]
· All Astoria coverage [Curbed]
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