New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
City Council Approves Rezoning for Flushing Waterfront
The City Council approved plans to rezone the Special Flushing Waterfront District in Queens at its Thursday meeting, Crain’s New York Business reported. The 39-5 vote came one day after a subcommittee voted unanimously to approve it following multiple delays.
The council’s approval clears the way for a major new development to come to the neighborhood from F&T Group, Young Nian Group and United Construction and Development Group.
“After decades of false starts and stops to activate the waterfront, we could not be more honored to be part of the solution,” the developers said in a joint statement following the vote. “Today and together, we move Flushing forward.”
The project will span 29 acres and four sites, costing an estimated $1 billion. It will feature more than 1,700 apartments–with at least 90 affordable–and roughly 900 hotel rooms, along with 300,000 square feet of retail.
For comments, questions or concerns, please contact Paul Bubny
- ◦Development
