Aah, we spoke too soon. Or too late, depending on how you look at it »

Parade for Santo Amato, Vernon/Jackson, Long Island City

Fallout from the financial crisis keeps raining down on NYC. Now it’s news that the credit crunch is not just impacting buyers, but developers who depend on bank financing to get their developments completed. Obviously this is relevant to Long Island City, where predictions of a major slowdown in development thanks to the root problem of the financial crisis, the sub-prime mortgage meltdown, have been sounded out now for months. Though in a sense, where LIC is concerned, this is all relative information. There are still a ton of development projects going forward, as evidenced by the constant sound of hammering and drilling, aka the signature song of LIC.

In other news »

View from the Gantry condos, Hunters Point, Long Island City

The Long Island City linkage this week is a bit slight in volume, but heavy in content. First up is everyone’s favorite affordable housing development plan, Hunters Point South, which won approval from the City Council’s Planning Commission last week along with Willets Point (another controversial Queens development plan). “The Council has about two months to act, and typically takes much of that time for negotiations with the administration.”

With US lawmakers in the throes of deciding how to solve our pesky little financial crisis, Queens is wondering »