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Huge towers on Long Island City waterfront start going vertical

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Plus, start-ups are changing the security deposit game—and more intel in today’s New York Minute news roundup

Courtesy of TF Cornerstone

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Construction on massive Hunters Point South towers housing inches forward

It’s been a few months since TF Cornerstone broke ground on two large rental buildings on the Long Island City waterfront, and today, YIMBY reports that the project has gone vertical.

The structures, designed by ODA New York (with SLCE as the architect of record), will have close to 1,200 apartments, of which 60 percent will be earmarked as permanently affordable, and 100 will be reserved for seniors.

Some kind of development has been proposed for the Hunter’s Point South site—which was known, until about a decade ago, as Queens West—and it even became one of the selling points of the city’s failed 2012 Olympic bid. But eventually, the middle-income housing that was promised came to fruition: The first phase of development brought in Related Companies, Phipps Houses and Monadnock Construction, a team that developed Hunter’s Point South Commons and Crossing, two affordable buildings that opened in 2015.

In addition to the two buildings that TF Cornerstone is developing, another parcel at the southernmost tip of the Hunters Point South site will give way to two towers, developed by Gotham and RiseBoro Community Partnership Inc., that will have more than 1,100 apartments between them. Plans for those were filed earlier this year.

And in other news…