Earlier this week, the Durst Organization bought the long-awaited development site at Hallets Point, paying "well over $100 million" for a 90 percent stake in the Astoria megaproject.
The Hallets Point development has been in the works for years, and developer Lincoln Equities finally got the greenlight from the city last fall. All told, the project will have 1,921 apartments (plus 483 affordable units), spread across seven buildings. The plans also call for an esplanade, a school and retail space, including a supermarket. Interestingly, the New York City Housing Authority struck a deal that will allow the developer to build and operate two affordable buildings on the grounds of Astoria Houses, the nearby public housing complex.
So the affordable housing will be on the grounds of the projects and the council went for this?? ROFLMAO!!!