As The Wall Street Journal reported this week, more than 11,000 condominiums and rental apartments have been built in the Queen’s neighborhood during the past decade, fueling the need for more high-quality office and retail spaces to support the new residents.
Tishman Speyer is playing a major role in the continued development of the area, building three apartment towers in addition to the massive office and retail space in Long Island City.
Elizabeth Lusskin, president of the Long Island City Partnership, a local development organization, told the Journal: “The Tishman project is the cornerstone of this next phase of Long Island City in the sense that you are finally getting large scale new office creation for a market that is desperate for it.”
The 43,000-square-foot office and retail development consists of two 27-story office towers, a four-story retail building, numerous restaurants and a 1.5-acre park on the roof. Construction is set to begin in early 2017 and be completed in 2019.
For more information on Long Island City’s continued development and transformation, read the Wall Street Journal’s story: In Queens, Residential Development Is Fueling Commercial Demand.