Queens residents in Long Island City are already experiencing an upturn in residential development in their area, citing separate projects on 31st Street near Broadway, 37th Avenue, and 38th Avenue. The 65-unit development near Broadway, scheduled to be finished in the fall of 2008, will also feature parking and medical office space. In many cases these developments in Long Island City are occurring...

Housing data released by firms Miller Samuel and Prudential Douglas Elliman show that homes in Queens sold less quickly in the first quarter of 2007 by 12%, as measured by the “average number of days it takes to sell,” from their figures in the fourth quarter of 2006. Compounding this slowdown is the fact that average sales prices of homes are also down in Queens by as much at 10% during the two...

Long Island City is finally being recognized for development potential with easy access to Manhattan with a recent burst of redevelopment in the area. At least twenty-five residential developments have been built or are planned for the waterfront. Developers have invested heavily in the area, for example Rockrose development has one residential tower completed, one under construction, and five more...

The Real Estate Board of New York is supporting creation of a specialized not-for-profit organization which will be able to support financing of Queens West housing development through tax-exempt bonds. If the city were to create the non-profit, The Real Estate Board could actually issue the bonds to the non-profit which would technically own the development. The city in turn would own the non-profit....

New York's loss to London in its attempt to host the 2012 Olympics has steered the city onto a path of economic development and rebuilding, according to Crain's New York Business. The article details how many current development projects in New York, particularly those situated on prime waterfront property and suited for transportation sites and housing, are fruits of the failed bid. Deputy Mayor...

With the New York State Housing Finance Agency short of funds, developers are looking for innovative solutions to their financing. Developers of a proposed 24-acre affordable housing development in Long Island City have proposed creating a non-profit group to issue tax-exempt bonds to the project. While the State Housing Finance Agency has a limited number of federal bonds it can issue, non-profits...

The city's Landmarks Preservation Commission has granted landmark status to three buildings in the West Village area: the Keller Hotel at 150 Barrow Street, 354 West 11th Street, and 159 Charles Street. The Keller Hotel's tie to the maritime trade along the Hudson River was the primary motivation for its landmark designation. The Commission is also considering landmark status for the entire Sunnyside...

Six years after Long Island City, Queens had a rezoning to allow for more commercial and residential uses the area has become home to a thriving hotel market. Situated across the East River, Long Island City is popular among hotel and condominium developers fleeing higher land costs in Manhattan. The popularity of the "hotel-condo" in Manhattan has caused the supply of hotel rooms in the city to...

With the rapid change of pace in Long Island City, community leaders are both welcome the large scale developments that have already been planned while trying to maintain diversity and an eco-friendly focus in the neighborhood. Residential towers have been welcomed as a land and energy efficient form of expansion. However, neighborhood activist Mr. Baard also hopes to attract eco-friendly businesses,...

With approximately fifty new buildings either under construction or in the planning stages, residents believe that Long Island City, Queens, may become the next booming neighborhood of the outer-boroughs. Rockrose Development, which is planning six water-front residential towers in the area, cites the easy access to Manhattan and transportation as well as the excellent views as factors that are bringing...