Design + Construction  ·  Infrastructure

City Pitches LIC Development Deal Swap

By November 18, 2014 3:00 pm
reprints
The Queensboro Bridge.
The Queensboro Bridge.
The Queensboro Bridge.

The city is, for the first time, offering a new deal to developers of affordable housing: free air rights. The Economic Development Corporation has issued request for proposals that makes developers a novel pitch: development rights, at no cost, in exchange for a “permanently affordable housing program that maximizes both the number of housing units and the level of affordability,” according to the EDC.

The air rights on the table are for three city-owned parcels beneath the Queensboro Bridge in Long Island City. Because of bridge ramps, the sites themselves are not available for development.

SEE ALSO: Partial Office-to-Residential Conversion Planned for 2 Wall Street

To read the full story on New York Observer, click here.

New York City Economic Development Corporation (NYCEDC), Queensboro Bridge
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