Now that the holidays are over, reality hits us here in LIC. The final TF Cornerstone building site lies fallow, the Center Boulevard wind corridor is in full thrust, and of course the 7 train doesn’t run on weekends. Yet if you leave the den and look closely, some “flowers” are still blossoming. I am talking about residential real estate projects in various stages of building, the results of which won’t be fully recognized until walking around weather returns in the spring. Might it be global warming? Maybe, but my guess is it’s just capitalism in action. All around town new projects are sprouting, and now comes word of two more gigantic developments on the drawing boards. The first one is up in Court Square and has just been revealed. You can read the details in the accompanying story, but the one fact I will disclose is that it could be three buildings totaling 2400 units! The second one has been long discussed and planned, and now you can see the actual pictures of what it will look like. I am talking about building #1 in Hunters Point South(HPS), which has received zoning approval to have 619 units of well located, awesome-viewed, and subsidized joy!
Eagle Electric Building Getting Makeover In Court Square – these not as well-located buildings will not be subsidized, the lucky inhabitants get to pay full price!
Hunters Point South Building on 50th Avenue Moves Forward with Approved Zoning – only the penultimate locations should be considered for middle income housing, right? Hmm, will the 200+ parking spaces be subsidized too? Probably doesn’t matter, w/ the discount they’ll receive on rent, they can get a new Benz as well as pay full price for parking.(Do the math)
7 Train Closures Irk Local LIC Businesses
7 Train Petition – sign the petition put together by Christine Quinn, JVB, and Peter Koo
Exploring Money and Hardship – c’mon man, we can’t be all business, a good review of this exhibition which continues thru March 13th
Anonymous Bosch says
January 5, 2013 at 1:48 pmThe East River winds giveth and taketh, and this time of year it’s the latter.
Paul says
January 6, 2013 at 10:46 amSo much for the final TF Cornerstone plot lying fallow, they just constructed a major crane on the site.
The Wizard of LIC says
January 6, 2013 at 10:11 pmOk, for the sake of argument, let’s do a back of the envelope calculation. If an average 2 berm on Center Boulevard goes for $4,000 a month, and the discount at HPS is 25 percent, that’s $1,000 a month or $12,000 a year tax free. If indoor parking is $200 a month, that leaves $800 a month for a car lease, which according to a quick google search can get you a moderately priced Mercedes even including the down payment amortized over 30 months.
LICkin says
January 7, 2013 at 8:00 amMight HPS have plenty of coveted 3-bedroom apartments too?
anonymous says
January 7, 2013 at 8:43 pmDo you think the advertisements for HPS will read “Sign a lease, get free use of a benz?”
Anonymous says
September 6, 2013 at 11:20 amWant to warn everyone regarding TF Cornerstone. They are running a scam there. Entered into a deal w/ them (gave them $100 chk to hold the agreed offer) in purchasing a condo on LIC waterfront. Lawyer was already engaged and paid and contract was drafted up and sent. They were “dragging out” the process not signing to the agreed deal and meanwhile, in secret, readjusting the condo price. They eventually refused to honor the price at which they agreed and ask for 25% more in price. So if the unit is 1 Mil, they want 250K more. YUP. They are scamming people there. Accepted your offer, waited for you to spend time/resource/$ to get a contract going then leave you hanging dry while looking for the next sucker to pay more for the same unit. beware. –