Queens congresswoman Carolyn Maloney says that “there are 39 new development projects already in the ground, and 4 million new square feet of new space on the drawing board" for the borough. One major project which she hopes will come to fruition is the improvement of Queens Plaza by redesigning traffic flows and creating new open space. While official plans are forthcoming, the Queens Ledger says...

Plans to build 5,000 units of affordable housing along the East River waterfront in Long Island City, announced last week by Mayor Michael Bloomberg, will go a long way toward completing development of the swath of land stretching north from Newtown Creek. The development is joined on the north by the luxury residential housing already built as part of the Queens West development.

A 79 unit apartment complex reserved for low income senior citizens in the Hunters Point Queens West development is anticipated to be completed by May 2006. The 32 story building is partially funded by the U.S. Department of Housing and Urban Development, which gave $13.9 million for the construction, and the Queens West Development Corporation. Special services will be available for residents,...

The New York Sun reports on a boom in real estate activity in Long Island City, including one unconfirmed report that entertainment giant Viacom could be planning a significant move to the Queens neighborhood. The article also reports on moves by a large number of financial firms, suggesting that LIC could soon be called “Wall Street East.” Also included is a recounting of major commercial real...

Amalgamated Bank, the country's only union-owned bank, is opening a new branch in Long Island City, Queens. The neighborhood is one of 11 in the city identified as underserved by the New York State Banking Department. Expected to open in February 2007, the branch will benefit from below-market-rate deposits from the city and the state.

Silvercup Studios is on board to adopt a new green roof. Long Island City has been singled out as the best suited for the environmentally friendly measure because of its limited park space, flat rooftops, and asthma inducing air quality. The use of green-roofs in Chicago is widespread because it is required of any developer who receives financial help from the city.

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The New York Times reports that the Metropolitan Life Insurance Company is close to making a deal to move 1,700 workers back to Manhattan from Long Island City where they moved five years ago partially spurred by incentives offered by the Giuliani administration. Some city officials are angry about MetLife’s decision. One city council member said: “They got a lot of taxpayer benefits to move here....

The approval of the $1 billion expansion project for Silvercup Studios passed as expected. The design will build eight new soundstages, affordable and luxury housing and retail space along the Long Island City Waterfront and create nearly 4,000 new jobs.

Yesterday, the Silvercup West project received unanimous approval from the City Council's Land Use Committee, and it is expected to pass the full council today. The project required several zoning changes, including a switch to residential from manufacturing use. Long Island City is fast becoming the next hot thing in New York neighborhoods.