Long Island City bright and shiny Monday morning linkage
Having trouble finding your way around Long Island City?
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Long Island City and Queens are confusing [Times Ledger]
Profile on the developers of Hunters Point South in LIC [Crains]
PS1 MoMA LIC has a new kiosk entrance. It’s big news. [Times Ledger]
CB2 pats themselves on the back for fight against strip club [Times Ledger]
Love for LIC’s Alobar [Times Ledger]
The battle for 5pointz in LIC has been lost [Amsterdam News]
Art manifests underneath a bridge in LIC [Queens Chronicle]
Say hello to this year’s PS1 MoMA courtyard installation [NYT]
I am not 100% suure if the 3 developers profiled are indeed developers for HPS..
“Read about three builders who have gotten in on the affordable-housing action. ”
Phipps Houses, Related Companies, and Monadnock Construction are the developers and only Phipps is profiled. L&M and Fordham bedford aren’t developers for HPS
Seriously? Pretty sure 41st Ave is ONE WAY. This just confirms it. Thanks, LIQCity!
Sites not showing up due to subscription requirements can be found googling the subject line.
http://www.crainsnewyork.com/article/20120212/REAL_ESTATE02/302129988
Copyright Crains New York…
Updated: February 13, 2012 5:12 p.m.
In the quiet days that have followed the collapse of the real estate bubble in 2008, a longtime industry also-ran has emerged as the belle of the ball. Aided by strong demand for what they build and access to financing that other builders can only dream of, developers of affordable housing are busier than ever.
“In weaker markets, affordable housing is still an attractive long-term investment,” said RuthAnne Visnauskas, deputy commissioner at the city’s Department of Housing Preservation and Development.
It also helps that Mayor Michael Bloomberg has made affordable housing a top priority. His New Housing Marketplace Plan, launched in 2003 and expanded three years later, seeks to create or preserve 165,000 affordable–housing units by 2014 and commits $8.4 billion to make that happen. Recently, plans have advanced for a number of major projects. They range from Via Verde, a 222-unit mixed-income green-housing project in the South Bronx, to Gotham West, the huge complex on Manhattan’s far West Side that will be the largest of the lot, boasting 1,238 units—600 of them affordable. Soon, however, even Gotham West will be eclipsed. Financing is being finalized for a new giant, the first phase of Hunter’s Point South, out on the Long Island City waterfront in Queens. When all phases are completed several years from now, it will have roughly 5,000 units, a minimum 60% will be affordable—making it the biggest complex to rise since Co-op City opened in the Bronx more than 40 years ago.
Builders of affordable housing in the city have been able to tap a number of public and private funders. One of the most popular is the use of federal low-income housing tax credits. Additionally, banks are mandated to finance such projects under the federal Community Reinvestment Act, which aims to channel more money to inner-city neighborhoods.
“Even though credit was seizing up, banks had to figure out what to do to meet their requirements,” said Abby Jo Sigal, vice president and New York director at Enterprise Community Partners, which raises capital and invests in affordable-housing projects across the nation.
With all that going for affordable housing and so little going on elsewhere, some of the city’s largest developers are active in the sector. Today, the field ranges from huge companies with the bulk of their business in other market sectors to a host of nonprofits that have never done anything else
Read more: http://www.crainsnewyork.com/article/20120212/REAL_ESTATE02/302129988#ixzz1mNDRt2Za
http://www.crainsnewyork.com/article/20120212/REAL_ESTATE02/302129999
Phipps Houses
Affordable/other revenue mix: 82%/18%
Largest affordable project: Hunter’s Point South (planned); 963 units
Units begun since 2007: 12 projects totaling nearly 2,000 units and approximately $650 million in development costs
Number of units planned: 1,900
In the 107 years since Phipps Houses was founded, it has built big projects, but nothing on the scale of the one it will start later this year. A year ago, Phipps, along with the Related Cos. and Monadnock Construction, were tapped by the city to build the first phase of Hunter’s Point South in Long Island City, Queens. After all phases are complete, that waterfront complex will be the city’s largest affordable-housing project in decades, and will cost upwards of $300 million.
“The site always interested me, since it is a short distance from one of our oldest developments,” said Adam Weinstein, chief executive of Phipps Houses, referring to the 472-unit Phipps Garden Apartments in Sunnyside, built in the 1930s.
The recession has failed to crimp Phipps’ style. In 2009, at the height of the crisis, the nonprofit closed on financing for the $125 million Hobbs Court and Ciena, a 340-unit, two-building affordable-housing complex in East Harlem.
Founded by Henry Phipps, a partner of Andrew Carnegie, Phipps Houses has developed nearly 6,000 affordable apartments and still owns more than 5,100 of them, providing housing to 15,000 people in the Bronx, Manhattan and Queens.
“We follow commitment to government policymakers,” said Mr. Weinstein, who expects Phipps to do more preservation because such work has been the Bloomberg administration’s recent push, and it requires less capital and subsidies.
Phipps Garden Apartments in Sunnyside
Phipps Garden Apartments – In the northeast corner of Sunnyside Gardens alongside Sunnyside Park, the Phipps Garden Apartments opened in 1931 and also featured enclosed open space. We are pleased to present its original apartment-rental brochure (courtesy of the Rev. Michael Moran, an early tenant):
entrance elevation view and convenient location;
features (“..unusually well planned.. Under owner-management, tenants’ interests are always of first importance”);
floor plans (and aerial perspective, “How the Garden gets maximum sunlight through the entire day”).
Michael also supplied this, “from another early advertisement for Phipps”:
interior courtyard photographs.
Old Pictures and A Brief History from the Sunnyside Chamber of Commerce:
From about 1900 on: Farms, pond by Skillman Ave., early construction of Sunnyside Gardens and more.
One of the best way to define ‘affordable housing’ is to see previous (recent) examples of it motion. Gathering comments and feedback on existing projects will help establish some expectations moving forward in HPS.
http://harlembespoke.blogspot.com/2010/05/introducing-hobbs-court-ciena.html
Hello!
For P.S. 78′s pre-K program, only 36 seats are provided for approximately over 100 applicants. This means most of our youngest kids and families will have to commute to go to a school out of the ‘nabe!
Please help, by signing this petition online:
http://www.thepetitionsite.com/1/adequate-school-seating-for-long-island-city/
Any word on what will go in on 11th St and 46th Ave when that block long building is torn down? I hope it’s not a high-rise monstrosity. Something lower in scale would make it one of the nicest building in LIC: walkable to the shops on Vernon *and* walkable to the Courthouse Square subway station with alternatives to the dreaded #7 train.
Never mind. I found it: http://www.liqcity.com/new-development/long-island-city-development-parcels-selling-like-hotcakes-or-warmcakes
With only 59 units it sounds like will be perfectly scaled since it is a huge block. But, based on that article, they’re way behind schedule.
Thanks for the link to the petition for the school, #7, I just signed it. Its so important to get
adequate number of school seats available for this rapidly growing neighborhood.
What do you readers think of this property? Anyone have any other information about it’s ‘needs TLC?’
@ #12. From what I’ve heard from a broker, this place needs at least 300K to get it basically livable: major water damage and general neglect: roof, electrical, plumbing, foundation, and who knows what else. And then you upgrade to a modern kitchen and bathroom(s).
Let us know if you hear different.
would be a good long term investment
Thanks #13! Good information. Def. not in my price range with all that info.
Anybody know of any new apartment buildings in LIC that have one bedrooms for around $2300? I don’t need a doorman building. Or of anyone who has bought an apartment but renting it out?
Has liQcity thought about starting up a website where available apartments can be posted? Something better than craigslist. I feel that a lot of the places posted on there have pictures for apartments other than the actual one for rent. And being that this would be based around the neighborhood, the editor and users could call BS on certain places.
Re:
what do you readers think of this property? Anyone have any other information about it’s ‘needs TLC?’
The next door neighbor is a nut, beware
#16 look into Condo building. We are renting a great 1 bedroom (800 sq/ft) condo in 5SL (5th Street Lofts) for $2500…
Also, there is building on the corner of Jackson and 47th Rd. (above the health food store) renting at $2300 a month for 900 sq/ft 1 bedroom. Also, this company http://www.paramountlic.com/default.html always advertises 1 bedroom apartments around $2300. However, I never looked at them so I can’t personally recommend them. StreetEasy was my best friend! I found so much info there and actually Craigslist as well…
Best of luck – take your time and look around. Don’t be pressured by any of the local realtors.
what happened to this blog??????? i used to check it out everyday, now it takes weeks for a new post. oh well, its jsut a shame because i liked this website and found it informative,but cant stand it when a new post happens every 2-3 weeks
#19, #16 here. Thanks for the tips! Would love to talk to you about your apartment in 5sl
I have to imagine that this blog is not a full time job so I cant fault them when not posting for weeks. I know I couldnt keep up.
That said, with so much going on in this growing neighborhood, it would be great if they had some help or if a similar website was created that could be kept up to date.
As an example, the progress with Corner Bistro is exciting. It would be great to know when they are planning to have a grand opening. There is a new pediatrician opening on vernon. It seems as if the new buildings are getting close to completion. Wondering if there is an update to the resident parking spaces.
also a few new spots in queens plaza
and work is continuing at crossroads diner
It’d be great to have a reliable no fee LIC rental listings. No sense in giving MS or whomever a broker fee of a month or more for wanting to stay in the neighbourhood. I got no prob paying 100 USD for a credit fee, but i got a prob for paying thousands for finding an owner looking for reliable tenants….
Perhaps a moderated bulletin board / blog where anyone could post an article with picture, and then it’s moderated by someone (scanning for typical no-nos). Then people could start posting on it.
LIQCITY could make money off the ads as usual.
Seems like they’d get “free” content and be able to sell ads off it, and the community would have a nice bulletin board/discussion forum.
Glad people are on board! I have been looking for a cheaper apartment in LIC, something cheaper than Avalon, and it seems that every building tells me to talk to Modern Spaces. I’m honestly sick of it. I’ve dealt with them in the past and don’t want to work with them again. I’m thinking with a LiQCity run apartment site, it will be easier to flag false advertising/Modern Space and Royalton Reality (RIP) mash up apartment style pictures and/or bait and switch apartments. Also, since Modern Spaces doesn’t seem to update their listings that often, we could have postings expire after a certain period of time. And best of all, No Broker Fee! Because why should we pay someone for telling us whether or not a building has an apartment available?
Maybe we could leave all of the keys for the available apartments hooked onto a telephone pole on Vernon somewhere so people looking for apartments could see them anytime they want and thus the tenants wouldnt have to pay a broker fee. That’s exactly what an owner of a million dollar building would want.
#28 – Be serious and don’t write BS.
In a geographically limited market like LIC all tenants know 98% of the buildings and know the market prices. As such the only value added by brokers is screening and information (which apts are free and available). The second part could be done by LIQ City through posts and the 1st one is already outsourced to a lot of companies specializing on credit checks and tenant screening. So where exactly is the value of paying a broker’s fee in LIC?
And neither MS nor credit checks can weed out the occasional black sheep tenant.
Here’s an update- I walked by “Bistro” next to the dunkin donuts on 49th and the soap is off the windows with a little sign that says “Cafe Enrique”. Looks nice on the inside.
Add ditto on the demise of this website. It used to be so good. Now its so bad. I would feel taken if I was one of those who donated.
Check out the interactive map in the Times detailing the health code violations in our local restaurants.
Masso, Blend, Dominie’s Hook, Lounge 47, Court Square Diner, Cranky’s, and Tuk Tuk — guys, get your acts together, will you? Gross.
How does a restaurant get an A but still have rats and mice?
http://www.nytimes.com/interactive/dining/new-york-health-department-restaurant-ratings-map.html?hp
Ugh. Masso should be shut down. I have no idea how they even operate considering no one seems to go there. I’ve been there twice, gotten stomach problems twice.
Congratulations to Los Amigos — the official filthiest place in Hunters Point
Masso is one of the biggest disappointments. Such a great location and nice ambience, but the food is generic, bland, and boring. Boo! As for this website, another huge disappointment. Glad I didn’t go to the fund raiser, this used to be a very informative blog to visit.
If we could combine queenswest.com’s bulletin features with liqcity.com’s usability (i.e., easy to access stories, pictures and more dynamic-client side features) it could be a winning combination.
Well here’s some news: M. Wells has a space near the Citicorp building and is opening a steakhouse in the fall.
http://dinersjournal.blogs.nytimes.com/2012/03/01/m-wells-owners-plan-a-steakhouse/
Tuk Tuk gets an A. Why did you include them in your list? I didn’t see Alobar on your list – they got Grade Pending.
41, I love Tuk Tuk and eat there regularly, but read the report. Even though the city gives them an A, they have mice and other issues. In fact, many of the restaurants citywide that get an A often have roaches or mice.
court square, another plus, been saying for years its going to rival the waterfrontth
Those grades are a joke. I really don’t think we should base all of our opinions on some silly grade. They are just another way for the government to make money off of these restaurants. I say if the food is good and the place looks clean, that’s good enough for me.
That’s my point. Los Amigos looks gross. If it looks nasty and it looks like a place you wouldn’t dare eat, then don’t eat there. Sometimes these restaurants get a B because the temperature in the fridge is a few degrees off. All I’m saying is, use your own judgement people, a grade is not everything!
Meeting at ps 78 this Thursday march 8 at 6:30 to discuss new schools in lic is/hs 404
Flash–the new M. Wells steakhouse will be about 2 blocks from Dutch Kills. I admit it’s a long time from now, but is it really too early to start thinking about it? Cocktails at Dutch Kills…Aw, you get the idea!
court square, growing and growing
7 train, not running and not running….
happy monday morning.
any news about tribeca pediatrics moving into the LIC Corner deli space?
@46 Really? How great would that be? An actual service and not just a restaurant? A pediatrician makes so much sense in this neighborhood. I wonder if Corner Deli space is big enough.
Is the No. 7 service returning back to normal starting the weekend of April 7?
#50, I’m gonna go out on a limb here and say that the MTA will have the 7 train up and running on weekends ahead of schedule just so they look like hereos for finishing their job early.
judging by the commute this morning, all this work they are doing is not improving service. long waits and verrrry slow between LIC and Grand Central.
52, let’s hope so. I didn’t think the No. 7 stoppage would suck as much as it has. I usually don’t mind the walk to Court Square, but the train service there has been pretty sucky. Still, three more weekends to go…
#55, that is awsome good news to this neighbor!!
It would also be nice to get some charter and/or private schools out here in LIC, if they also charge less than Manhattan.
Pretty sure the guy who runs ourlic.com is some sort scammer
Dutch Kills Bar:
We’ll be getting food soon! Blissville Kitchen will be opening inside Dutch Kills– look for it to happen shortly, in early summer 2012!
Info from Facebook
http://corenyc.com/blog/2012/03/introducing-one-murray-park/
New Condo – One Murray Park.
Mid-400′s is a good try for that area being a new condo. Close to Court Square and Vernon and the park, but nevertheless in between those two areas.
I wish someone would built some brownstone/townhome style condos rather than the same generic floorplans
I dream about brownstone/townhouses too, but they would cost 3-4+ easily with the cost of land in LIC these days.
Maybe 20 years ago they could have tried, but not now. Everything will be condos/co-ops going forward.
That’s what will one day make me leave the neighbourhood. I rather buy a brownstone far away in brooklyn or a detached house in queens and if needed renovate it with high quality wood floors and windows rather than buying these prices for a mediocre built condo
Join the DOE and community members on Thursday, March 8th from 6:30 pm
at P.S. 78 48-09 Center Blvd. in LIC.
NYC’ Department of Education’s Division of Portfolio Planning invites
parents and community members to attend an Open Meeting about IS/HS
404 in Hunter’s Point South.
The Division of Portfolio Planning will be joined by staff from the
School Construction Authority and CEC District 30. Elected officials
representing the area have also been invited.
The school, located at 1-50 51st Ave. in Long Island City is expected
to open for the 2013-2014 School Year.
The new I.S. / H.S. 404 will have over 1,000 seats and will include an
Intermediate School, High School, and ninety-six District 75 seats.
Come to the meeeting to hear about progress of the construction and to
ask questions!
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