TF Cornerstone is thrilled to announce they will participate in Phase II of the Hunters Point South development, partnering with Selfhelp Community Services to develop an apartment building with 1,193 on the Long Island City waterfront. The development will include over 60% apartments reserved for affordable housing, extending TF Cornerstone’s apartment community on Center Boulevard. As mentioned by HPD, TFC and Selfhelp were chosen through a competitive Request for Proposals (RFP). The site, referred to as Parcel C, located in Long Island City, Queens and bounded by Borden Avenue to the north, 2nd Street to the east, 54th Avenue to the south, and Center Boulevard to the west, will be developed into two high-rise buildings with a total of 1,193 new apartments. Of the total, 796 apartments will be affordable, with 100 of those units reserved for low-income senior citizens.
From NYC Department of Housing Preservation & Development:
NYC Department of Housing Preservation and Development (HPD) Commissioner RuthAnne Visnauskas announced today that a development team consisting of TF Cornerstone and Selfhelp has been selected to build Phase II of the City’s massive Hunter’s Point South development. The developers were chosen through a competitive Request for Proposals (RFP). The site, referred to as Parcel C...will be developed into two high-rise buildings with a total of 1,193 new apartments... Phase II will also feature a fitness facility, rooftop gardens and decks, children’s playroom, an on-site Senior recreational center and other amenities. “We are excited to be working with TF Cornerstone and Selfhelp to build this next phase of the largest affordable housing development undertaken since the 1970s,” said HPD Commissioner RuthAnne Visnauskas. “When TF Cornerstone broke ground on our LIC Waterfront project more than ten years ago, we envisioned the creation of a multi-faceted, family-friendly community with diverse retail options, top-of-the-line schools and expansive park space. Today’s designation by HPD enables us to continue our pursuit of these goals in what is now an already-thriving LIC waterfront, while creating greatly needed affordable housing. We thank HPD for this designation which allows us to continue to grow our affordable housing portfolio and solidifies LIC’s position as a preeminent, 24/7 multigenerational, mixed-income and mixed-use community,” said K. Thomas Elghanayan, Chairman/Co-Founder, TF Cornerstone.
Crain’s New York Discusses Parcel C:
A partnership of developer TF Cornerstone and nonprofit Selfhelp Community Services have been tapped for the second phase of the massive Hunter's Point South project on the Long Island City, Queens, waterfront, officials said Thursday. Under the contract, TF Cornerstone will construct a 36-story and a 41-story apartment building with a total of 1,193 apartments...the project ranks as the last and largest such development undertaken by the Bloomberg administration, according to city Housing Preservation and Development Commissioner RuthAnne Visnauskas. “The city saw this as an opportunity to build middle-income housing and really reach a demographic that doesn’t get financed by many of our programs,” Ms. Visnauskas said, indicating the units might be ideal for the families of firefighters, teachers or nurses. “It is really servicing people who make the city live and breathe.” “We firmly believe that for New York City to thrive and prosper, quality housing needs to be developed for all segments of the population,” [Jeremy Shell, senior vice president of acquisitions and finance at TF Cornerstone] said.
Phase II Details From The Real Deal NY:
Low-income seniors are slated to receive 100 of the roughly 800 affordable units, with the remaining 700 designated for families making from 105 percent to 155 percent of the median income for the area, which for a family of four would be between $111,670 and $141,735 annually. The overall Hunter’s Point South development is to be the city’s largest affordable housing project since Co-op City in the Bronx and Starrett City in Brooklyn were finished more than 30 years ago. The project will be TF Cornerstone’s seventh along the Long Island City waterfront.
DNAinfo Long Island City Section Local Perspective:
TF Cornerstone already has a deep presence in the neighborhood: the company has six high-rise luxury apartment towers on Center Boulevard, including one behind the iconic Pepsi-Cola sign which topped out this summer. [...] In addition to residential housing, plans for this phase of the Hunter's Point South call for 20,000-gross-square-feet of new commercial space with preliminary plans for a pre-kindergarten, a medical facility, a rock climbing gym, and new restaurants. Additional space will be reserved for local arts-based community groups, city officials said. The first phase of Hunter's Point South is already under construction nearby, where 925 affordable apartments are being built. A new school building and a new waterfront park have already opened as part of that first portion of the project.
Curbed NY Talks Hunters Point South Aesthetics:
ODA designed the two new towers with "stepped terraces that echo the Art Deco skyscrapers of Manhattan." They have a variety of sustainable features, including two "urban farming terraces" and grey-water recycling for irrigation. Other amenities include a gym, rooftop garden, and a children's play room, plus there will be a senior recreation center and 10,000-square-feet of community space. Units will range from studios to three-bedrooms, and a press release sent out by the Department of Housing Preservation and Development says there will be "20,000-gross-square-feet of new commercial space with preliminary plans for a pre-kindergarten, a medical facility, a rock climbing gym, and new restaurants." All mechanicals are on the second floor and the ground floor spaces will be flood-proofed.