By Alex Robinson
The developers of Flushing Commons have cleared their last hurdle before going ahead with the long-delayed development of Flushing’s Municipal Lot 1.
Rockefeller and TDC Development, part of F&T Group, closed on a deal with the city to purchase the property Dec. 30, a day before the deadline. If they had not completed the agreement by the end of the year, they would have had to renegotiate the deal with the new mayoral administration.
The developers can now go ahead and start preparing the site for construction, scheduled to begin in March.
“We’re finally here after a lot of years. I know a lot of people have been patient. With the economic downturn of the last five years, it threw a monkey wrench into our plans. We had to adapt, but I’m happy to say we’re finally doing it,” said Michael Meyer, head of F&T Group, at a Community Board 7 meeting in December.
The $850 million development was originally proposed eight years ago and passed by the City Council in 2010, but faced years of delays as the project ran into financial trouble.
The multi-use complex will have residential, retail and commercial space. It will also house a 62,000-square-foot YMCA and 1,600 parking spaces.
The developers’ construction plan will see the complex built in two phases in order to preserve the existing 1,144 parking spaces on the lot, at the corner of 39th Avenue and Union Street. A four-level underground parking structure will be built in the first phase to allow for the bulk of the above-ground construction to take part in the second phase without disrupting available parking.
“We’ll be able to keep the 1,144-space car capacity on site while we build,” Meyer said. “That’s going to benefit the local merchants, which is a concern for them.”
“Less construction, less congestion, less displacement” was Meyer’s motto when he presented the final details of the development to the CB 7 meeting.
Standard Parking, the private firm in charge of parking on the property, announced there would be no charge to park on Municipal Lot 1 from the date they closed on the property until Jan. 15, when drivers will be charged $3 for an hour, $8 for 12 hours and $16 for 24 hours.
These rates have caused concern among community leaders and members of Flushing’s business community who are worried commuters will take advantage of the rates, leaving less space for Flushing residents to park.
The developers responded to these concerns by saying they are willing to work with the community on their parking plan and that rates could be raised eventually to deter abuse.
Reach reporter Alex Robinson by e-mail at arobinson@cnglocal.com or by phone at 718-260-4566.
