Press Releases

Mayor Bloomberg Announces City's $100 Million Acquisition of the 30-Acre Hunter's Point South Parcel


Mayor Michael R. Bloomberg today announced the $100 million acquisition of 30 acres at Hunter’s Point South in Long Island City. The site was acquired from the Empire State Development Corporation and the Port Authority of New York and New Jersey and will become the largest middle income housing development since the 1970’s. This largely vacant land will accommodate 5,000 new units of housing, 60 percent of which will be reserved for moderate- and middle-income families. The project will also include more than 11 acres of landscaped waterfront parkland, new retail shops, community facility space and a new 1,100 seat high school. Expected to catalyze more than $2 billion in private investment and create more than 4,600 jobs, the first phase of the $175 million infrastructure and park design work will begin this fall. Joining the Mayor in Long Island City were Queens Borough President Helen Marshall, Assemblywoman Catherine Nolan, City Councilman Eric Gioia, Deputy Mayor Robert C. Lieber, Department of Housing Preservation and Development Commissioner Rafael Cestero, Parks and Recreation Commissioner Adrian Benepe, Economic Development Corporation President Seth Pinsky and School Construction Authority Executive Director Lorraine Grillo.

“Creating jobs and affordable housing for the City’s middle income families is a critical component of our Five Borough Economic Opportunity Plan and today’s announcement allow us to make great progress on both those fronts,” said Mayor Michael Bloomberg, “With the acquisition of the site and the start of the design work, we are setting the stage for the largest investment in permanently affordable housing for our police officers, nurses, teachers and public employees and other middle income New Yorkers.”


At the announcement, the Mayor unveiled concept designs for the open space which are available at www.nycedc.com/hps. The 1,100 seat high school is in design and fully funded as part of the budget passed by the City Council.

Hunters Point South is an integral part of the City’s $7.5 billion New Housing Marketplace Plan which calls for the preservation and creation of 165,000 affordable housing units. Sixty-eight percent of those – over 112,000 units – will serve low-income New Yorkers. At least 3,000 permanently low-income units will be built in Queens over the next 10 years. The Hunter’s Pont South Plan also includes the re-zoning of an adjacent, privately-owned 7.5-acre site, Site B, to allow for compatible development, including at least 330 units of low-income housing.

The project will serve moderate- and middle-income New Yorkers with a range of incomes. It is expected that of the 3,000 total affordable units at Hunter’s Point South, 1,000 will be for households with incomes at 80% of the HUD income limit, another 1,000 will be for families with incomes at 130

About NYCEDC

New York City Economic Development Corporation is the City's primary vehicle for promoting economic growth in each of the five boroughs. NYCEDC's mission is to stimulate growth through expansion and redevelopment programs that encourage investment, generate prosperity and strengthen the City's competitive position. NYCEDC serves as an advocate to the business community by building relationships with companies that allow them to take advantage of New York City's many opportunities. Find us on Facebook or follow us on Twitter, or visit our blog to learn more about NYCEDC projects and initiatives.

Archive

Press Release Subscription

Subscribe to have the latest NYCEDC press releases delivered to your inbox.

Contact Info

Stu Loeser/Andrew Brent
(212) 788- 2958


David Lombino/Janel Patterson
(212) 312-3523