Planned 25-story luxury development in Corona slated for completion in 2024

Eastern Emerald conceptual rendering
Conceptual rendering of Eastern Emerald, a 25-story luxury development coming to Corona. (Photo courtesy of Fleet Financial Group)

Plans for a new 25-story, mixed-use luxury development in Corona are moving forward.

Eastern Emerald, the planned high-end hotel and residential development on Northern Boulevard, has received approval from the New York City Board of Standards and Appeals (BSA), property owners announced on Monday, May 24.

The as-of-right development will be located at 112-15 Northern Blvd., and will be 350,178 square-feet and 372 feet tall, encompassing a full city block near LaGuardia Airport, Citi Field, Flushing Meadows Corona Park and the Flushing Bay Promenade.

The property will be bounded by Astoria Boulevard to the northeast, 112th Place to the west and Northern Boulevard to the south. It will total 80,000 square-feet and includes more than 315 feet of frontage along Northern Boulevard, 485 feet of frontage along Astoria Boulevard and about 470 feet on 112th Place.

The residential portion of the project will include about 175,000 square-feet on the upper levels of the development and the hotel will encompass 145,900 square feet of the building.

Developers also received a certificate of completion from the NYSDEC Brownfield Cleanup Program for its full remediation of the site. The site served as an automobile service repair facility and gas station since the 1930s, which caused the soil and groundwater to be contaminated, but following extensive cleanup from developers, it’s achieved significant remediation.

Eastern Emerald will feature an expansive open-air atrium in the center of the building starting at the third level and rising to the top floor, as well as a double height height rooftop deck and bar. Hotel amenities will include a ballroom, an auditorium, meeting rooms, multiple terraces and an outdoor pool.

Fleet Financial Group, a New York-based urban development and real estate asset management company, are the owners of the development. Fleet Architects, PC is the architect for Eastern Emerald.

SASI Studio, a London-based award-winning architecture and design firm, is working with Fleet Architects on the design of the façade, atrium, terraces, and other public spaces in the building.

“Our extensive remediation efforts improved the air and water quality at and around the site, thereby enhancing the public health and vitality of the surrounding community,” Richard Xia, president of Fleet Financial Group, said. “The development will also allow for an influx of capital into the area and create a significant number of jobs, further revitalizing the Elmhurst and Corona neighborhoods following the catastrophic effects of the recent pandemic.”

Eastern Emerald is slated for completion in 2024.