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.
Slate, Queens Future Reach MOU on Affordable Project Near Proposed Casino
One outcome of a casino license for the proposed $8-billion Metropolitan Park project near Citi Field would be the development of an affordable housing complex. That’s the topline result of a memorandum of understanding (MOU) between Slate Property Group and Queens Future, the joint venture of Hard Rock International and New York Mets Owner Steve Cohen.
Slate and Queens Future on Wednesday announced the MOU for the planned development of a 100% affordable housing project featuring more than 450 units on what is currently a surface parking lot at 54-19 100th St., adjacent to an existing affordable housing site in the Corona neighborhood of Queens. Proceeding with the development would be contingent on Metropolitan Park being awarded one of three downstate casino licenses.
“This partnership highlights the shared dedication of Queens Future and Slate Property Group to equitable and sustainable development in the borough,” said Slate principal David Schwartz.
- ◦Development
