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Developer TF Cornerstone to be honored for role in transforming LIC  

Photo courtesy of TF Cornerstone

TF Cornerstone has been one of the main faces in the real estate development boom currently occurring in Long Island City.

Recently, the real estate firm completed its 10-year, $1.4 billion Center Boulevard project, which includes six residential towers on the LIC waterfront with unobstructed views of the Manhattan skyline that provide a high-quality living space for a community of more than 6,000 people.

TF Cornerstone was also selected to develop two residential towers for the second phase of the city’s Hunter’s Point South affordable housing project, further bringing more residential opportunity to the neighborhood. The buildings will have 1,193 apartments, 796 of which will be affordable. The towers will also feature a gym, rooftop gardens and decks, and an on-site senior recreational center.

Because of these investments in the neighborhood, the Long Island City Partnership, an organization that focuses on fostering economic growth in the community, will honor the founding brothers of TF Cornerstone, K. Thomas and Frederick Elghanayan, at its 27th annual luncheon on Nov 13.

“We’ve come to love this community as we’ve watched it grow and, for that reason, receiving this award is truly special,” the Elghanayan brothers said. “We’d like to thank the Long Island City Partnership for this honor, and we’re looking forward to many more years of partnerships with groups and individuals in LIC as we begin our next chapter of development in Hunter’s Point South.”

Aside from constructing towers, TF Cornerstone has played a major role in building the community aspects of LIC through supporting local events and institutions, such as the LIC Flea, LIC Arts Open and P.S. 78 and developing Gantry Plaza State Park.

“They’ve been part of that revolutionary vision of what LIC can be as a residential neighborhood,” said Elizabeth Lusskin, president of the LIC Partnership. “People who were attracted to the dollar value now want to stay here for the community value, and that is a testament to the Elghanayans and TF Cornerstone.”

Hundreds of attendees are expected to attend the luncheon, which will be held at Astoria World Manor.

Kenneth Adams, president and CEO of Empire State Development, will give the keynote speech and Community Board 2 Chairman Joseph Conley will receive the William D. Modell Community Service Award.

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