$100m land sale paves way for mega-housing complex.New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. has acquired a 30-acre parcel in Long Island City on which officials say will be built the largest middle-income housing development in more than 30 years. The Empire State Development Corporation and the Port Authority of New York and New Jersey Port Authority of New York and New Jersey, self-sustaining public corporation established in 1921 by the states of New York and New Jersey to administer the activities of the New York–New Jersey port area, which has a waterfront of c. sold the Hunter's Point South property to the city for $100 million, it was announced last week. Sixty percent of the 5,000 planned residential units will be reserved for moderate- and middle-income families, filling the needs of police officers, nurses and teachers who are often regarded as underserved. The project will actually be a mixed-use development Mixed-use development refers to the practice of allowing more than one type of use in a building or set of buildings. In planning zone terms, this can mean some combination of residential, commercial, industrial, office, institutional, or other land uses. and will include a public school for 1,100 pupils, an 11-acre waterfront park Waterfront Park can refer to any of a number of parks on a river or other body of water, including:
Some 4,600 jobs are expected to be created. "Today's announcement moves the Hunters Point Hunters Point refers to the following places:
The offices of borough president were created in 1898 with the formation of the City of Greater New York. Helen Marshall said in a statement last Thursday. "Infrastructure improvements, a new school, housing construction and a timetable for work to begin this fall will transform this underutilized property in southwest Queens into an attractive, mixed use development that will continue to transform the waterfront in southwest Queens into one of the most desirable places to live in our city." The project requires $175 million in infrastructure work. Some $2 billion in private investment is expected to be spurred by the development, the city said. "Hunter's Point South should be a model in revitalizing the waterfront and rebuilding the middle class," Councilman Eric Gioia said. Mostly vacant land, Hunter's Point South the city had considered using the site for the Olympic Village in its 2012 bid. |
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