Jan. 25, 2015 By Michael Florio
The first of seven buildings that will be constructed as part of the Hallets Point mega project is expected to be completed by the summer of 2017.
The company is set to break ground in October on what will eventually be a 2,200 unit complex, according to Jordan Barowitz, a spokesman for the Durst Organization, which is developing the project.
The entire development—to be built in seven phases—is expected to be completed in six years. The project will be located at the very end of the peninsula next to the Astoria Houses.
The 7-acre development site makes room for a public school, a supermarket and a waterfront esplanade.
Twenty percent of the 2,200 units will be offered at below market rate.
The 20 percent will be incorporated into each phase, including the first building that will consist of approximately 400 units.
Barowitz said the company will start marketing the first building at the end of 2016 as it builds up toward the lottery for the below market-rate apartments.
This is one of two mega housing projects that will change the Hallets Point peninsula
Alma Realty will be building the Astoria Cove development consisting of five residential buildings containing 1,700 units, 27 percent of which will be affordable.
Face it guys. We had it good for awhile. Time to search for a cheaper neighborhood that won’t get us killed. Maybe a couple places in the BX?
Only if you are a poor hipster.
And the other 73% will be unaffordable? Hmmm. That makes sense.