City Pitches LIC Development Deal Swap



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.

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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.

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