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Lincoln Equities Group received city approval to construct 2,100-unit residential and commercial project called Hallets Point.The plans call for housing, retail and a waterfront esplanade along the East River.
A gritty stretch of Astoria’s waterfront will soon be transformed by the addition of soaring residential towers, a riverfront esplanade and much-needed businesses.
The City Council approved Lincoln Equities’ $ 1 billion Hallets Point project on Wednesday by a vote of 45 to 1.
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The development of the small land mass that protrudes into the East River between Roosevelt and Randalls Islands will create more than 2,100 luxury and almost 500 below-market rate apartments near the Astoria Houses public housing development.
“Right now, this peninsula doesn’t have a bank, a supermarket, a school or a beautiful waterfront promenade,” City Councilman Peter Vallone Jr. (D-Astoria) said of the area along First St. “Soon it will have all of that and more.”
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Lincoln Equities expects to break ground on the project in late 2014 or early 2015.
Several other developers are eying the area for similar developments.
The group 2030 Astoria Developers LLC is looking to add additional housing, retail and a new school along 26th Ave., between Fourth and Eighth Sts.
Councilman Charles Barron (D-East New York) cast the lone dissenting vote.
Yahoo Local News – New York Daily News
http://newyork.greatlocalnews.info/?p=15388
via Great Local News: New York http://newyork.greatlocalnews.info
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