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.
Thursday, October 31, 2013
If you don't like the deadline, just move it!
Posted by Queens Crapper at 12:37 AM
Labels: EDC, Flushing, flushing commons, TDC
I hope this project brings more diversity into flushing.....these Asians are running flushing to the ground! Maybe more diversity would do some good to this area!
The article stated: "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."
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From the EDC website:
"The Purchaser’s original proposed purchase price
pursuant to the RFP was $50,000,000. This was reduced to
$20,000,000 due to the addition of various public benefits to
So what public benefits reduced the cost by $30 million?
(edc source: http://www.nycedc.com/sites/default/files/filemanager/EDC_Property_Sale_to_Flushing_Commons_BD_Feb_2013.pdf)
Were there any closed door meetings held between CB 7's "follow the buck" Chuck Apelian and TDC's Mike Meyers regarding this?
TDC and CB 7 has got a real hard-on to get this through before Bloomberg bites the dust in January.
A lot of kick back money depends on it.
How many printing contracts do we smell for Prestone, Mr. Apelian?
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