Somewhere between 50 and 60 percent of the units will be permanently affordable for families earning anywhere between 80 and 165 percent of area median income. The development will also include retail space on 2nd Street and Borden Avenue.
The city has stated that any developer who signs on to the project must be aware of the close location to the water. Given the recent events with Superstorm Sandy anyone who is willing to take the project on must be aware of the need to build to the latest standards associate with a facility on the waterfront in Long Island City.
“When we first announced plans for Hunter’s Point South, there were those who said that creating a 5,000-unit mixed-income, mixed-use community couldn’t be done,” said Housing Preservation and Development (HPD) Commissioner Matthew Wambua. “The RFP Phase II is proof positive that we have been able to continue to build on our commitment to create a haven of affordability in the Hunter’s Point neighborhood for New York’s hard-working families.”
The project is part of Mayor Michael Bloomber’s New Housing Market Plan, a multi-billion dollar project to help finance 165,000 units of affordable housing for 500,000 New Yorkers by 2014.
Bloomberg was on hand in March to break ground on the first phase of the project.