NEW YORK | 43-25 Hunter Street | 509 FT | 50 FLOORS

[chris08876]

Rockrose’s Court Square tower plans rejected twice

What was supposed to be the tallest residential building in Queens has hit a major snag. Rockrose’s plans for 43-25 Hunter Street in Court Square have now been rejected twice by the Department of Buildings in the last month.

According to Curbed, construction on the 50-story, 975-unit building was scheduled to begin back in the fourth quarter of last year. Now, more than six months later, there has been “zero activity on the lot,” according to Court Square Blog.

If the project ever succeeds in getting off the ground, the tower will rise 500 feet. At one point that would have made it the tallest in Queens, but now it will likely be overshadowed by 42-12 28th Street, which will rise 646 feet and recently began construction.

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June 08, 2014
http://therealdeal.com/blog/2014/06/...ejected-twice/

[chris08876]

Revealed: 43-25 Hunter Street

A project insider submitted fresh renderings for Rockrose’s development at 43-25 Hunter Street, in Long Island City’s Court Square neighborhood. The architect is SLCE, and permits were partially approved late last week.

The insider also has the latest details regarding scope, and 43-25 Hunter Street will be very substantial, with a gross measurement totaling 970,000 square feet. Ground-floor retail will comprise 19,400 square feet, and the remainder of the project will be divided between 974 apartments, with 20% set aside as affordable; the development will also be split between two components, with a 14-story building rising next to the larger tower.

Completion of 43-25 Hunter Street is tentatively slated for 2017.

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http://www.yimbynews.com/2014/06/rev...-street.html/1

[chris08876]

Foundation coming in at Rockrose’s 43-25 Hunter Street project

We haven’t checked in at Rockrose’s 43-25 Hunter Street project since August when crews were doing excavation work.1 Things have been steadily progressing since then, and when we stopped by last week, we noticed that foundation work is now underway, as seen in the first two photos below.

According to permits, the 50-story building will have 767,305 square feet of residential space and 18,800 square feet of retail space.

1. Rockrose’s project at 43-25 Hunter Street. We’ll have an update on this tomorrow, but according to permits, the 50-story building will have 767,305 square feet of residential space and 18,800 square feet of retail space.

2. Rockrose has a line of buildings that are former industrial buildings. They plan on turning these into the retail hub of the area, though they’ve been vacant since they were bought out. Construction began in 1Q 2014.

3. In August, Rockrose reported that Linc LIC (42-story, 709-unit building), located at 43-10 Crescent Street was 100 percent leased.

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http://liccourtsquare.com/2014/12/23...treet-project/
http://liccourtsquare.com/2014/12/22...-court-square/

[sparkling]

Some more competition in the area


Lions Group Developing Complementary Skyscrapers in Long Island City



FEBRUARY 19, 2015
ONDEL HYLTON

Just north of Long Island City‘s Court Square and its once lonely Citigroup Building, the Long Island-based Lions Group will erect a complementary pair of residential towers fronting opposite sides of Jackson Avenue. Sensibly dubbed Jackson East (26-32 Jackson Avenue) and Jackson West (27-01 Jackson Avenue), the project is just one of the more than two dozen high-rise developments underway in LIC’s Court Square / Queens Plaza area.

While details remain scarce, renderings recently posted on the Lions Group’s website depict that the taller east tower will rise nearly 40 stories while the shorter west building will be about 30.

Image by City Realty

Designed by the Queens-based Raymond Chan Architects, the towers’ facades are an eclectic mix of glass and brick, with building corners glazed with floor-to-ceiling windows and balconies siding many mid- and upper-floor units...

While still unclear if the towers will contain rentals or condos, they will rise from a hotbed of development activity in Long Island City. Across the elevated Dutch Kills Street (a vehicular High Line of sorts that streamlines traffic to and from the Queensboro Bridge) is the site of Rockrose’s conversion of the Eagle Electric Warehouse and its accompanying 54-story tower. TF Cornerstone’s 50-story mega-rental at 43-25 Hunter Street is already underway across 43rd Avenue, and along Purves Street, a string of recent condo and rental mid-rises that include the Vere Condominium, Purves II, and Lions Group’s own Vantage Purves and the Vista, have already created one of the district’s first residential enclaves.

[NYguy]

http://liccourtsquare.com/

Rockrose’s 43-25 Hunter Street project begins to rise


February 18, 2015
by CtSqLIC

We last checked in at Rockrose’s 43-25 Hunter Street project in December when crews were laying the foundation for the building. When we stopped by last week, the foundation appeared to be completed. There’s now rebar coming up from the ground, and we should start to see a rapid rise to the sky soon.

[sparkling]

Checking in on progress at 43-25 Hunter Street

April 1, 2015
CtSqLIC

We last checked in at Rockrose’s 43-25 Hunter Street project in February when rebar was just starting to come out of the ground. Things have moved along quickly since then, with the foundation complete and the building set to rise.

According to permits, the 50-story building will have 767,305 square feet of residential space and 18,800 square feet of retail space.

[NYguy]

The transformation of LIC in a couple of years will baffle many.

[ChiTownWonder]

Originally Posted by NYguy

The transformation of LIC in a couple of years will baffle many.

it will be a nice cluster when all that's said is done.

[sparkling]

State set to provide $270M in financing for Rockrose LIC tower
Court Square building will set aside 20 percent of 974 units as affordable



From left: renderings of 43-25 Hunter Street and Rockrose CEO Henry Elghanayan with his son Justin

April 03, 2015 02:35PM
Rich Bockmann

New York state housing officials are getting ready to provide $270 million in financing for Rockrose Development’s 974-unit rental project in Long Island City.

“Historically, you haven’t seen a lot of 80/20 in the outer boroughs,” Rockrose President Justin Elghanayan told The Real Deal. “What’s happening now is that Long Island City and other areas are getting so desirable to live in that the market-rate rents have gotten to the level [where the program makes financial sense].”

The state Housing Finance Agency is set to vote later this month on a proposal to provide Rockrose with a $270 million first mortgage on the planned towers – one 14 stories and another 50 – in the neighborhood’s Court Square section at 43-25 Hunter Street. The loan will be financed through of a mix of tax-exempt and taxable bonds to be purchased by Wells Fargo and a consortium of other banks.

Rockrose, in turn, will set aside 20 percent of the apartments – or 195 units – for renters earning up to 60 percent of the area median income for a period of 30 years. This will be the developer’s first 80/20 project outside of Manhattan.
Market-rate rents in the building will average $53 per square foot, a marked increase from the low-$40-figure Rockrose proforma-ed the nearby Linc LIC rental tower the company began building in 2010, Elghanayan said.

Long Island City in general is booming with large rental projects and developers are particularly interested in the Court Square area, which has strong transit connections to Manhattan. Rockrose alone has 2,500 units in the pipeline for the area.

The Hunter Street project is expected to cost $531 million to develop, inclusive of land-acquisition and soft-development costs, according to HFA documents. Rockrose will put up just less than half of that figure in equity, a combination of cash and the value of the land.

Before Rockrose split into two separate firms – Rockrose and TF Cornerstone – in 2009, the company had developed several 80/20 projects in Manhattan, but the Hunter Street development marks the first for Rockrose outside the borough.

[ILNY]

[sparkling]

43-25 Hunter Street rising over construction fence

June 8, 2015
CtSqLIC

We last checked in at Rockrose’s 43-25 Hunter Street project in April when foundation work had finished and the building had just begun to rise.1 Two months later, the project has started its third level, with the building now blooming over the construction fence.

According to permits, the 50-story building will have 767,305 square feet of residential space and 18,800 square feet of retail space.2 The renderings on site call for a summer 2017 delivery on the building.

[chris08876]

Credit: Tectonic

[Hypothalamus]

LIC is burning hot right now

[chris08876]

Nice Rendering:


Credit: http://commercialobserver.com/2015/0...hunter-street/

[Hypothalamus]

Rockrose’s 43-25 Hunter Street project hits growth spurt

Posted on July 28, 2015 by CtSqLIC

[Lecom]

• Video Link

[tdawg]

It's becoming a sea of cranes around Queens Plaza right now.

[Hypothalamus]

14-story portion on 43rd Avenue has topped out:

Construction Update: 43-25 Hunter Street, Long Island City

BY: REBECCA BAIRD-REMBA 7:00 AM ON AUGUST 28, 2015

[ILNY]

If LIC keeps that construction pace, it will overtake Brooklyn in 5-10 years.

[ILNY]