[NYguy]

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Proposed residential developments could transform the western Astoria waterfront
Projects would add thousands of housing units and shops to the currently 'underedeveloped' East River district





By Clare Trapasso
August 23, 2012

A trio of proposed residential developments could transform the western Astoria waterfront from public housing and gritty warehouses to 30-story towers, shops and manicured parks. Alma Realty is talks with the city to build 1,800 units of housing and a promenade lined with stores and restaurants along the East River, officials told the Daily News Wednesday. The Astoria Cove project, which would include four towers, assorted low-rise buildings and a supermarket, is to be located on an eight-and-a-half acre parcel of land along 26th Ave. “We want the waterfront to be iconic — something that’s really going to draw folks,” said attorney Howard Weiss, who is representing the project. “Almost 40% of the site is going to be [public] open space.” His clients plan to file applications with the city before the end of the year, he said. But plans are still preliminary, he said. “It’s going to be really exciting,” Weiss added.

The owners of a four-acre site next door, occupied by a lumber company and a movie studio, recently announced they are looking for a development partner. Jon Epstein, a partner at Avison Young, the real estate firm handling the property, said a sale isn’t out of the question either. The land is believed to be worth about $80 million, he added. “There are very few opportunities in New York City to get large tracts of land on the water,” Epstein said.

Hallets Point, a proposed 2,200-unit, waterfront development along 1st St., could break ground as soon as late 2013, officials said. The development, which has been in the works for about five years, would include seven residential towers, a waterfront promenade and supermarket, said Andrew Moesel, a spokesman for developer Lincoln Equities Group. “The Hallets Point project will bring many much needed resources to a community that’s been underserved for some time,” he said.

All of the projects require a zoning change which has to go before the City Council, and City Councilman Peter Vallone Jr. (D-Astoria) said he has reservations. “Development is absolutely necessary for that community,” said Vallone, who lamented the lack of a nearby supermarket or bank. But “it will add thousands of people in area where the infastructure is already strained.” Vallone would like to see new schools built, ferry service instituted and an increase in the number of subway trains to and from the area before he throws his support behind the projects, he said.