Posted Mar 12, 2015, 2:46 AM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 51,900
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http://blog.archpaper.com/2015/03/to...her-high-rise/
TOWERING OVER QUEENS: CENTRAL LONG ISLAND CITY SITE TO MAKE WAY FOR ANOTHER HIGH RISE
MARCH 6, 2015
Quote:
Yet another tower could rise in Long Island City, Queens. Citigroup is expected to sell a prime development site next to its SOM-designed, 51-story turquoise office tower that dominates the neighborhood’s skyline.
The New York Times reported that when Citi built the structure in 1989, the city expected Long Island City to blossom into a major commercial hub. That hope did not pan out. But the neighborhood has seen a boom in residential development in recent years and now Citi wants to take advantage of it. The bank will reportedly sell the development site for $150 million, likely giving way to an apartment or hotel high-rise.
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“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
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