You are reading

City council to vote on Astoria Cove Tuesday, passage almost a certainty

01-astoria-queens-cove-development-nyc-studiov-architecture-archpaper

Nov. 24, 2014 By Michael Florio

The City Council is set to vote on the Astoria Cove development Tuesday and its passage is almost a certainty.

The deal that was struck between the developer – Alma Realty – and Councilman Costa Constantinides earlier this month has assured its safe passage. Alma entered into a pact with Constantinides where it agreed that 27% of the 1700 units would be made affordable.

The development is almost a certainty as Constantinides will be holding a press conference with Council Speaker Melissa Mark-Viverito to celebrate the deal prior to the vote.

Under the agreement with Alma, the maximum an applicant for an affordable apartment can earn is up to 125 percent of the AMI—although most of the affordable units are for those earning less than 80 percent of the AMI.

The agreement requires 5 percent of the 1,700 units to be rented to households earning up to 60 percent of the AMI; 15 percent to those earning up to 80 percent of the AMI; and 7 percent for households up to 125 percent.

With the new agreement, 20 percent (of the 27 percent affordable units) of the development will be reserved for low income households, with monthly rents being as low as $800 per month, Constantinides said.

At this month’s Community Board 1 meeting, Constantinides’ Chief of Staff Nicholas Roloson said that “there will be a 50 percent preference in the affordable units for CB1 residents.”

“We wanted to make sure that the people who live in the area benefit,” he added.

email the author: news@queenspost.com
No comments yet

Leave a Comment
Reply to this Comment

All comments are subject to moderation before being posted.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Recent News

Long Islander gets 3-9 years for stealing homes across Queens belonging to elderly or disabled owners: AG

New York Attorney General Letitia James and Queens District Attorney Melinda Katz announced that a Long Island man was sentenced to three to nine years in prison Friday for leading a deed theft ring that resulted in five homes being stolen from vulnerable Queens residents and saw them earn more $1 million in ill-gotten gains.

Marcus Wilcher, 48, of Carll Drive in Bay Shore, pleaded guilty in May to grand larceny in the second degree in Queens Supreme Court for his role in leading the crew following an investigation by the Attorney General’s office.

NYPD searching for burglary crew that targeted nearly 30 laundromats in Queens and others in Brooklyn and the Bronx

Police from the 110th Precinct in Elmhurst are looking for three masked men who broke into Susan’s Laundromat at 85-12 Grand Ave. at around 3:15 a.m. on Monday, June 24, while a fourth member of their crew acted as a lookout near their getaway car parked in front.

The burglars stole $1,800 in cash and removed a payment machine for the laundry room continuing an undetermined amount of cash.