$1 Billion Project in Astoria

Astoria real estate, along the East River, has been slated for a revitalizing change.   Lincoln Equities Group has, in the past, proposed to build 2,300 residential units, a park, and a supermarket in Hallets Point.  Although Lincoln has not received approval, last week the New York State Legislature transferred ownership of the land from the State Park Department to the New York City Housing Authority, making it easier to rezone the land.  Lincoln’s proposal also includes seven residential towers with 2,200 market-rate units, with 440 of those units reserved for affordable housing, as well as a new water taxi stop.  The residential buildings will vary in heights, ranging from 20 to 40 stories.  The only remaining step is for the City Council to approve the project.

If you are unsure where Hallets Point is, here is where it is located on the map:

Here are some pictures of the proposal: