Eight years after the city and a pair of developers announced plans for an $850 million mixed-use project in Queens called Flushing Commons, the deadline to begin work has been pushed back. Under the new schedule, the developers will close on the $20 million purchase of the property, a city-owned parking lot, by the end of the year. Ground is to be broken shortly afterward. Previously, the developers had faced a deadline of Thursday, Oct. 31, to get a shovel in the ground.
The project will be undertaken by a joint venture of TDC Development International and The Rockefeller Group.
Earlier this month, the developer filed for a construction permit to begin the first phase, which will include an underground parking garage, about 160 residential units, 350,000 square feet of retail or commercial space, a 1.5-acre open space and a 62,000-square-foot YMCA.
Shifting closing dates for projects as large and complex as Flushing Commons is not unusual, the Economic Development Corp. noted.