by Brianna Crandall — August 11, 2017 — In an innovative revitalization move that shows the changing nature of the workplace and urban development, New York City Economic Development Corporation (NYCEDC) recently announced a plan to transform two City-owned sites on the Long Island City waterfront into a groundbreaking mixed-use project that combines industrial and commercial office with residential space in order to support 21st century jobs and innovation. Development of the 1.5 million-square-foot project is expected to create approximately 1,500 permanent and more than 2,500 construction jobs.
The project will also include more than 250 units of affordable housing, a new 600-seat school, workforce training programs, 25,000 square feet (sq. ft.) of art space, more than an acre of open space, and ground floor retail. The development will deliver 500,000 sq. ft. of space for jobs of the future and deliver on key goals of New York Works, Mayor de Blasio’s plan to create 100,000 quality jobs over the next ten years, by catalyzing job growth in both the innovation and industrial sectors, and providing good-paying jobs that are accessible to New Yorkers from all backgrounds.
NYCEDC President and CEO James Patchett stated:
Long Island City has emerged as one of the fastest growing centers of our city’s economy, especially when it comes to innovation and modern industrial jobs. With this project we are creating a first-of-its-kind work-live-play structure, with affordable housing, incubators, and space for cultural institutions. We’re investing in the continued revitalization of the Long Island City Waterfront, and delivering on our commitment to create good, middle class jobs for New Yorkers.
Other public officials pointed out the diverse assets the mixed-use project will bring, including critically needed affordable housing for a community that will undergo a major transformation, and a state-of-the-art school that will not only address overcrowding in District 30 but will help the growing community prepare for the future.
NYCEDC selected a joint submission by TF Cornerstone (TFC), Greenpoint Manufacturing and Design Center (GMDC), C4Q, and BJH Advisors to build on this unique waterfront site. The project will provide:
- 100,000 sq. ft. of light industrial space, including 50,000 sq. ft. of affordable workspace co-developed by GMDC
- 400,000 sq. ft. of commercial space, including:
- 22,500 sq. ft. of pre-built incubator spaces
- 10,000 sq. ft. for an Arts and Technology Accelerator, providing education, training, incubation and economic opportunities
- 10,000 sq. ft. of classroom space for workforce development and career training
- 80,000 sq. ft. of step-out office space for start-ups and fast-growing companies in the tech, arts, design and creative industries
- At least 1,000 residential units, with 25% affordable housing
- A brand new approximately 600-seat school
- Over an acre of open space, including a canoe and kayak launch point, to be designed in consultation with community members
- 19,000 sq. ft. of ground-floor retail
Jeremy Shell, principal and executive vice president at TFC, remarked:
Over the last decade, TF Cornerstone has been a leader in Long Island City’s urban renaissance, evolving from a largely industrial hub to a thriving 24/7 community. As an early pioneer in developing over 3,200 apartments along the Long Island City waterfront, TF Cornerstone is thrilled to be part of the next chapter in the evolution of this neighborhood. We are excited to be working with the DeBlasio Administration and our development partners GMDC, C4Q and BJH on creating a new model for urban mixed-use development.
Jukay Hsu, CEO and founder of C4Q, added:
C4Q is focused on building inclusion and equality through technology and ensuring that more New Yorkers are able to participate in the new innovation economy. This initiative is a transformative opportunity to create a diverse, integrated, and dynamic physical environment with vibrant live and work spaces that are representative of the values and cultures of Queens and New York City. We are excited to work with the NYCEDC and TF Cornerstone to connect our local community with the tremendous opportunities created by the rapidly growing tech industry.
The two sites, located near major residential developments at Hunter’s Point South and Queens West, are currently being used as a Department of Education (DOE) parking lot and a Department of Transportation (DOT) facility, both of which will be relocated as part of this development.
Additionally, by providing hundreds of thousands of square feet of new office and light manufacturing space, the development will help address the need for additional workspace in New York City. NYCEDC projects that 60 million sq. ft. of new commercial office space will be needed across the city by 2025, much of it in outer borough commercial hubs such as Long Island City.