Thursday, November 17, 2011

Affordable housing moves ahead... at Hunter's Point South

Crain's New York Business yesterday reported: Queens housing project to be all 'affordable': Originally pegged at 75% subsidized housing for the middle class, Hunter's Point South will be 100% affordable, a city official announced Wednesday.:
The first phase of the huge Hunter’s Point South project on a 30-acre waterfront parcel in Long Island City, Queens, will be 100% affordable housing, Deputy Mayor Robert Steel announced Wednesday afternoon.
When the city selected a team comprised of the Related Cos., Phipps Houses and Monadnock Construction in February to build the first phase of the project, officials said 75% of the 950 units would be set aside for middle- to lower-income families with household incomes ranging from $32,000 to $130,000 a year for a family of four.
“We are thrilled to be able to increase the number of units of workforce housing in this burgeoning neighborhood,” Mr. Steel said in a speech at the Long Island City Partnership Annual Luncheon and Trade Show. The developers will break ground on project next year.
How exactly they calculated they could make this project work as all affordable--more subsidies?-- remains unclear, but a Related spokesman said the team was "thinking creatively and working collaboratively."

What's the biggest project?

Crain's noted:
When completed, Hunter's Point South will be the city’s largest affordable housing complex built since Co-Op City opened in the Bronx in the 1970s. 
By contrast, Forest City Ratner's MaryAnne Gilmartin has claimed Atlantic Yards "is the most ambitious middle-income housing project ever undertaken in this city, because of its commitment to produce 2250 units of housing."

Forest City is supposed to announce plans for the long-delayed first tower by the end of the year.

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