Share on FacebookTweet about this on TwitterEmail this to someone
Share on FacebookTweet about this on TwitterEmail this to someone
Photos via Haak Architects
Photos via Haak Architects
A new 711-unit building will be constructed in Astoria.

Updated July 14, 10:30 a.m.

A nine-story residential building is planned to rise on 12th Street in Astoria and will include a whopping 711 units.

The site, located at 30-80 12th St., is being developed by Criterion Group, which is based in the neighborhood. The project will cost $315.6 million to construct and the development company will utilize the EB-5 Immigrant Investor Program to fund it, YIMBY first reported.

The program was started in 1990 “to stimulate the U.S. economy through job creation and capital investment by foreign investors.” The program gives EB-5 visas for people who invest in “commercial enterprises” that include regional centers. Greystone, a New York-based commercial real estate lending, investment and advisory company, will act as the regional center.

Out of 711 units, 146 of them will be affordable, and amenities will include “exclusive clubs, rooftop gardens, indoor basketball courts and recreational facilities,” according to the project website. The building will take up an entire city block.

Construction began this month and will take approximately two years to complete. HAAK Architects will handle the design.

 

Photo via Haak Architects

INTERIOR 1

EXTERIOR 2

 

Comments:

Join The Discussion



Profile picture
Billie kostas July 14, 2017 / 02:51PM
Right, affordable housing. For whom?
Reply

Popular Stories
Photos courtesy of the Woodhaven Cultural and Historical Society
The cyclone that transformed Woodhaven: Our Neighborhood, The Way it Was
Photos by Anthony Giudice/QNS
How a Ridgewood adult health center turned one patient's life around
Photo by Matthew Murphy
Broadway stars from 'Anastasia' and 'The Great Comet' will perform scenes for free in Long Island City


Skip to toolbar