The 69-unit building is being developed by Steve Cheung (based in Bayside) and will be designed Michael Kang (an architect based in Flushing). It will entail 55,000 square feet of residential and 5,500 square feet of commercial space. There will also be a small communal space and an asymmetric rooftop that will form penthouse terraces, plus a garage with room for 59 cars. According to YIMBY, about a quarter of the development was backed by foreign money (probably Chinese) under the EB-5 visa program, which grants green cards to foreign investors whose projects will produce American jobs.
Although Curbed & YIMBY made a big deal about this being in Elmhurst (and Curbed actually linked back to this blog, thanks) the project is actually in Woodside which was rezoned along with northern Maspeth in 2006. (Elmhurst wasn't rezoned at all.)