July 18, 2017 By Jason Cohen
Construction has begun on a nine-story, 711 unit complex in Astoria—near Socrates Sculpture Park.
Criterion Group, an Astoria-based firm, is developing the two-building complex—-with one structure being nine-stories consisting of 565 market-rate apartments and another being six-stories containing 146 affordable units.
The complex is located at 30-80 12st Street.
The total cost to develop the site will be $315,600,000 and that project is being designed by HAAK Architects, reported YIMBY. It noted that 18 percent of the project’s funding will come from the EB-5 Immigrant Investor Program, a program that gives visas to foreign nationals who invest in commercial enterprises.
The total development will 483,000 square feet. Completion is about two and a half years away, set for the end of 2019 or early 2020, YIMBY reported.
The developer could not be reached for comment.
The sad reality about all this over development is that Astoria is going to become a transient neighborhood. With these ridiculous rents , people now move from development to development when a lower rent is offered , even if it’s a lure for just several months . Hundreds of $$$ can add up over several months. I am beginning to see more and more disposable” junk “furniture on the street at the end/beginning of the month …….it is cheaper to buy new” junk” than pay a mover . My building has taken on the atmosphere of a hotel….we don’t really know who lives here anymore beyond the few older residents. The apartment next door has had 4 different tenants over the past 5 years.
Think about it this way. In exactly 2 years time, they’ll have people on a lottery to apply for this residential area via ads thru the news and what not. Then, it’ll take them a little longer past the completion date to screen interviewers just to see what’s who’s fit to take care of these apartments.
It’ s just like every housing authority unit: once you’re in to win, you have to wait for the bait.
Good luck to all who plan to apply for it.
$500,000 investment gets you a visa with EB-5
……affordable is calculated as 1/3 of your income (take home pay) It is also based on the median income of a neighborhood. The income in Astoria is getting higher versus Corona or East Elmhurst so the rents are higher but not for long, the greedy developers are going for the kill all over. If you are paying $2400 p/m ( one bedroom if you are lucky ) x12 mos =$28,800 a year + utilities +internet+ cell phone +food/necessities + transportation ,medical insurance, entertainment (dining out / date/movies etc )…maybe car insurance/parking
People are taking roommates even in older buildings because the apartments are renovated when older tenants move and the rents are soaring. In my 60 year old building , a 2 bedroom was converted to a 3 bedroom…..rent $3600.month !!!
define affordable please
You ask about more transportation ??? Why you don’t like overcrowded trains and buses that never run on time ? Impossible parking ? Or some available at $300+ ? Loud noisy overpriced restaurants……..the only places that are quiet and empty are local churches……
What you WILL get instead…are MORE and MORE restaurants, HIGHER prices in local stores, ( if you are on food stamps or fixed income you will eat less !!!) increasing crime, ridiculously priced rents ….even those they call “affordable”,……local RE agents will show you either “New” and overpriced or old with cheap fixups …also overpriced. Welcome to ASTORIA….. after 45 years….I’m moving.
Why does everyone on this thread think that the the Astoria post comments section is where you apply for an apartment?? Do you try contacting the Mets from the Daily News Sports Page article comments section??
Apples and oranges. Maybe, someone has insight info as to where to apply.
It’s gonna be all minority
I’m Looking forward to relocation back to astoria, were can I apply for an application.
You have to apply for an application for an application first
How do i get a application ?
Post all your information on a public bulletin board, then hope for the best.
Also it helps to be closer to my mom because she has a heart condition so I like to be close in case she needs me
My name is Rafael Matos and I’m very interested and seeing about applying for affordable apartments. I drive trucks and campers for the film industry and it’s close to where I need to be
dude, you have to wait till the lottery opens. seems like you’re not an idiot, but you are trying to make an inquiry for an affordable housing project in the comments section for http://www.astoriapost.com
Use some common sense people! seriously, what the hell
I would like to apply for a studio unit in this development. I grew up in the Ravenswood projects from 1963-1978 then moved to 36th Ave & 11th St where my Mom stayed until 2013. I’m now living in Jackson Heights but would absolutely jump at the chance to move back “home” to my old neighborhood. Very seriously interested. Thank you kindly.
Can you apply on line? My phone calls have not been returned. I left messages twice.
who are you calling? the building just broke ground. you won’t be able to apply for the lottery for some time.
Am I understanding this correctly? The program issues visas to foriegn nationals who invest in commercial enterprises? If a foriegn investor has enough money to invest why should they be eligible for “affordable housing”?
No, you are not understanding it correctly. The program promotes investment in the United States. This means that if a foreign national invests money by buying a business, investment in real estate development, etc. (in other words creating jobs locally) in the United States, such an investment grants you a visa to the United States. It’s a mutual benefit. More money flows into the country and jobs are created locally and in return the foreign national gets to enjoy legally living in the United States. There is a specific minimum that has to be invested (hundreds of thousands to millions).
so you could buy your way into the usa now??
The program has been in place since 1990. Below is from their website:
USCIS administers the EB-5 Program. Under this program, entrepreneurs (and their spouses and unmarried children under 21) are eligible to apply for a green card (permanent residence) if they:
Make the necessary investment in a commercial enterprise in the United States; and
Plan to create or preserve 10 permanent full-time jobs for qualified U.S. workers.
This program is known as EB-5 for the name of the employment-based fifth preference visa that participants receive.
Congress created the EB-5 Program in 1990 to stimulate the U.S. economy through job creation and capital investment by foreign investors. In 1992, Congress created the Immigrant Investor Program, also known as the Regional Center Program. This sets aside EB-5 visas for participants who invest in commercial enterprises associated with regional centers approved by USCIS based on proposals for promoting economic growth.
I’d like to apply for a unit. What is the process? How do I apply
I am interested in a rental
Potential war zone
I would be interested
That is almost $700 per square foot to build this project. This is double what similar projects in Queens cost. Costs less to build in Manhattan, seems like the foreign investors are getting ripped off here.
In manhattan they’re buying at $500-600 sf
We keep adding people by the thousands to the neighborhood. I wonder when we’ll get more trains, buses, classrooms, fire units and police.
How can we apply
Heard you the first time
How can we apply for an apartment,
Is 12st Street anywhere near 12th Street??
is this developer in JVB’s pocket also — I would not be surprised –