Here at 10 development projects that could transform NYC in 2024
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- January 01, 2024
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From a new movie studio in Queens backed by Robert De Niro to high rise affordable housing at the site of the World Trade Center, 2024 is poised to be another big year for New York City real estate. Here are 10 projects set to transform the city in the new year. The developer behind a massive on the Harlem River waterfront told the Daily News that construction on a first step is expected to kick off in spring 2024.
Dynamic Star’s Fordham Landing will eventually span over a mile by the University Heights Bridge; co founder Brad Zackson says they hope to finish in about a decade. The initial phase will include over 500 apartments — 30% of which would be affordable — across three towers to the south of the bridge.
A separate 23 floor, 350,000 square foot dubbed “ ” will include a new entrance to the University Heights Metro North station. A 33,000 square foot public esplanade on the waterfront is also planned. The second phase on the northern side will require a rezoning but would likely include around nine towers with 2,000 apartments, according to Zackson.
The 1.3 million square foot megaproject in Hunts Point is billed as the largest industrial development in the city. Developed by Turnbridge Equities, the 14 acre will have two floors with 585,000 square feet of warehouse space and 730,000 square feet of parking. It also has over 6,600 rooftop solar panels, making it one of the largest private in New York.
A representative for the development team told The News the facility will be fully complete in the first quarter of 2024 and that it does not yet have an anchor tenant. Few neighborhoods have seen the same level of as Gowanus in recent years, and developer ’ pair of high rises are the latest to join the growing throng of skyscrapers.
Located along the Gowanus Canal, the 15 and 20 story will have 360 apartments with 25% earmarked as affordable. Residents will have access to a lounge, children’s playroom, bike storage, a 14,000 square foot coworking space and other amenities. There will also be retail and commercial space and a new 470 foot long public promenade along the canal.
Construction began in 2022 and a spokesperson for the developers told The News they expect the first tenants to move in around fall or winter 2024. Touted as the city’s first all electric residential tower, the 44 story Boerum Hill behemoth from will have 441 apartments and 30,000 square feet of retail space.
The residential units range from studios to three bedrooms and 45 of them are designated “affordable” for households earning between 40% and 100% of the area median income. It’s part of the first phase of the “ ” complex of five new and old buildings that will eventually include two new public schools, offices and retail.
An affordable housing lottery for 505 State St. opened in starting at $763 a month for studios. The building is set to open in the spring. In the state to build 1,200 new apartments at the World Trade Center site, bringing to an end years of back and forth with the community. A third of the units will be affordable after vocal who had pushed for full affordability.
It’s located on the site of the former , which was heavily damaged during the 9/11 attacks. Some of the apartments will be earmarked for New Yorkers impacted by the attack. Upon completion “5 WTC” will be one of the largest affordable housing developments in lower Manhattan and the only residential site at the World Trade Center, according to the state.
The 900 foot is being developed by Brookfield Properties, Silverstein Properties, Omni NY and Dabar Development. A state official confirmed construction is expected to start before the end of next year. Columbia University’s increasing presence in Harlem has long been a for locals who feel of the .
Its latest — near the aboveground 125th Street 1 stop — is on track to be completed in 2024 and will house graduate students and faculty members in 142 apartments. For years the lot was home to a before it was in 2019 to make way for the new building. The global chain, however, is expected to return and will occupy 5,000 square feet of retail space on the ground floor.
Inwood has seen a flurry of take shape since the neighborhood was rezoned in 2018, and some of the most dramatic changes are happening on the corner of 207th St. and Ninth Ave. — across the river from another big project, Fordham Landing in the Bronx. The 30 floor “North Cove” complex will have 611 affordable apartments for households earning between 27% and 110% of area median income.
There will be a public access park along the Harlem River waterfront and eventually a outlet. Developers Maddd Equities and Joy Construction in February, and it is slated to open in June 2024. Across the street a giant with nearly 700 apartments at 405 and 407 W. 206th St. is also rising. It will include a performing arts center and is projected to be completed in 2025.
Queens is already known as the home of established movie studios such as Silvercup and Kaufman, but a development team including is bringing the upstart to Astoria. Set to open in June, the will include 11 sound stages. The 775,042 square foot campus will also have a publicly accessible waterfront esplanade and is expected to generate over 1,000 permanent union jobs.
Adam Gordon, managing partner of Wildflower Ltd., told The News that the space will likely mostly house television productions. He expects filmmaking will ramp up in the new year following the end of the actors strike. “Demand is overwhelming because people want to go back to watching fresh content,” he said.
Earlier this month the city to convert the former JFK Hilton Hotel in South Jamaica into affordable housing, the first such conversion under the state’s Housing Our Neighbors with Dignity Act (HONDA) program. The 318 apartments will be for low income and formerly homeless households, with rents ranging from $784 for a studio to $1,493 for a two bedroom.
The hotel was originally built in 1987 and is a half mile from JFK Airport. Slate Property Group and RiseBoro Community Partnership bought the property for $64 million and will redevelop it in collaboration with the city. Construction is set to begin in January and will take 21 months. Staten Island isn’t known as a hotbed of new development, especially compared with other boroughs, but change may finally be coming to the North Shore.
Earlier this year the city it would revive a long stalled scheme to transform a two mile swath of waterfront. The “ ” from Mayor Adams, Councilmember Kamillah Hanks and the New York City Economic Development Corporation would invest $400 million to “unlock” a 20 acre area that includes Stapleton, Tompkinsville and St.
George. The four year proposal aims to create 2,400 new housing units, a 600 seat public school and 7,500 jobs, according to the city. In December the EDC put out a for the North Shore Entertainment and Amusement Site near the St. George Ferry Terminal, where an enormous Ferris wheel was . Proposals are due by April 8, 2024..
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