TF CORNERSTONE TO BUILD PHASE TWO OF HUNTERS POINT SOUTH

Soon to be overheard "Look at all those suckers paying retail."

Soon to be overheard from here “Look at all those suckers paying retail.”

TF Cornerstone is winner number two in the Hunters Point South lottery.  They have been tapped to build two towers containing 1200 apartments, two-thirds of which will be off-limits to anyone making over $141,000 a year, or under $111,000.  In addition to unparallelled views, according to Crain’s the towers “will also feature a host of other amenities including, rooftop gardens, decks, and a children’s playroom. At the base, preliminary plans for about 20,000 square feet of commercial space call for prekindergarten, a medical facility, a rock climbing gym as well as new restaurants.”  What???  No swimming pools, jacuzzi’s, golf simulators, or squash courts?  How do you expect to fill these buildings without essentials such as these.  Oh right, they’re affordable housing, which means they are exactly like all the other new buildings in Long Island City, except the monthly rent is significantly less.

Well then, I’m sure these buildings will have wine cellars, because by my estimates($1,000+ a month for a 2-bdrm) you could pick up a case of Silver Oak 2008 Napa Valley Cabernet Sauvignon every month.  Of course, if you were in say a studio(do they even bother with those in affordable housing or would it be considered an indignity?) or one-bedroom, you’d probably have to settle for your Silver Oak to come from the slightly inferior Alexander Valley …of course.  Fortunately half of the affordable units will be two- and three-bedrooms, so if you play your cards right you can simultaneously move up to both a larger apartment, and a higher grade of wine.

I should probably just assume that affordable housing in the 21st century in NYC has an attached parking garage.  It doesn’t even need to be mentioned in the press release, right?  Because not everyone is a oenophile, so instead of wine the rent discount could be applied to a 2014 Mercedes GL Class SUV(family of four) no-money-down lease. Or maybe you’d prefer expensive wine and a Mercedes Benz, in which case you’d have to settle for an E-class, or maybe deign to ride a pre-owned Benz and get a half a case, or…

Anyway, the permutations are endless, and if I didn’t have to work such long hours, I’d be happy to list them all for you.  And while I don’t expect to be drinking Silver Oak anytime soon, at least I can still buy a cheap pint here in the neighborhood.

Developer Tapped for 1200 Apartments in LICso what, if any, risk does a developer take on apartments that are guaranteed to be fully occupied on Day 1 at the maximum allowable rent?

LIC Lights Up for the Holidaysoh c’mon, this story is not about bong’s and such

LIC Community Boathouse Founder Sued for Trademark Infringementnothing funny about that

‘Pirate Pete’ Has Big Laughs for Kids and Parentsa vegetarian lion…

Warehouse Sold on 28th Street for $17 millionlotsa selling, and buying, in the neighborhood

Tech-Driven Companies Choosing LIC for Start-Ups - “It’s a lot cheaper. It’s probably a third to a half as expensive to open up a shop here than it is in Manhattan,”

Patrons Can Open Champagne With A Saber at New LIC Wine Barcheers!

Food Box Opens in LIC BuildingThere are currently four vendors participating in The Food Box and Jamestown is looking for a fifth

6 thoughts on “TF CORNERSTONE TO BUILD PHASE TWO OF HUNTERS POINT SOUTH

  1. Anonymous says:

    How about adding a spa and a billiards room? That would seem appropriate for affordable housing.

  2. Slacker says:

    Maybe they put in a subsidized food court for residents too, or at least those who qualify. I’m thinking with a modern twist too, like farm to table, a rotating ethnic option, and high end French for special occasions such as the weekend. Because in addition to shelter people do need to eat …well.

  3. Anonymous says:

    At least there’s no low-income housing outside of the small amount set aside for seniors.

  4. Ally says:

    Does anyone know what happens if you break out of the $111,000-$141,000 band, either to the upside or downside? Do you lose your apartment? Thank you.

  5. Anonymous says:

    There is something really unfair in this statement, You can only get a 3 bedroom in LIC if you qualify for affordable housing?

    (Long Island City, NY) Senator Michael Gianaris released the following statement regarding the launch of the Hunter’s Point South Phase 2 development.

    “I am pleased that my request for more 3-bedroom units in Hunter’s Point South led to an increase from 66 to 80 such units in the selected proposal. There remain, however, additional needs that need to be met by the developer as this project moves forward, and I will continue working with community leaders to ensure a better development that provides needed space for health care, cultural activities and other community services.”

  6. Anonymous says:

    well to be fair, condo owners in the area get subsized maybe $10-20k on the property tax abatement… enough to pay a lease on a pretty nice car. Not to mention the plethora of other tax deductions like 15% on capitals gains.

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