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A massive new residential project has been proposed in Woodside, Queens. Madison Realty Capital has submitted plans with the city’s Department of City Planning to build two towers with 561 apartments, Commercial Observer reports.
The sites are currently zoned industrial and wouldn’t allow for the scale of development that Madison Realty is hoping for. In order to move forward, the project will have to go through the city’s Uniform Land Use Review Procedure (ULURP), and Madison Realty initiated the first step this week.
As per Madison’s plans, there will be a 14-story and 17-story apartment building at 69-02 Queens Boulevard. In addition to the apartments, there will be 5,600 square feet of retail, and 242 above-ground parking spots.
In addition to changing the zoning from industrial to residential, Madison Realty is also seeking a special permit to build 40-feet taller than the residential height limit of 140 feet in the surrounding area. As a result of these zoning changes, the developer will have to provide affordable units, and Madison Realty has currently earmarked 169 units for that.
The overall development parcel comprises of six sites; mid-rise residential development is already allowed on the northern half of the site, but not on the southern. As a result, Madison Realty could still pursue an as of right project that would stand 12-stories tall, and have 289 apartments, of which 58 would be affordable.
Of the six parcels, Madison only owns two at present, though the Commercial Observer notes that it isn’t uncommon for developers to acquire the rest of the parcels based on how the development moves through the ULURP process.