Halletts
Point
Real Estate
BY ANGELA MATUA
AMATUA@QNS.COM
The first of seven towers that
are a part of the Halletts Point
development project in Asto-ria
is set to open this summer
and new renderings have been
released.
A groundbreaking ceremony for the
2.5-million-square-foot development took
place in January 2016. Halletts Point will
include a total of 2,400 units with about
400 deemed affordable.
The first building at 10 Halletts Point
will include 405 units and up to 25 per-cent
of the units will be affordable to low-income
families, according to a spokes-person
with The Durst Organization, the
developer for the project. Residents in
the neighboring Astoria Houses will have
a rental preference for 50 percent of all
affordable housing units in the project.
Brooklyn Harvest Market will take up
25,000 square feet on the first floor of
the building. The building, made up of
two towers standing 17 and 22 stories
tall, will also include a fitness center,
recreational room for children, commu-nal
outdoor spaces and a landscaped
rooftop. Curbed first reported on the
new renderings.
Halletts Point will also include 65,000
square feet of retail space and commu-nity
facilities, a public elementary school
and a waterfront promenade.
The project has gone through several
setbacks. When the 421-a tax abate-ment,
which many developers use to
receive tax breaks for building large
projects, was not renewed in January
2016, the Durst Organization said it
would not be financially feasible to con-tinue
the project. In April 2017, the real
estate industry and lawmakers agreed to
a proposal brought forth by Gov. Andrew
Cuomo called Affordable New York.
Earlier this month, it was announced
that in Nov. 2017 the city suspended
$43.5 million allocated for the project.
The city’s Housing Development Corpo-ration
was slated to provide the funding
for a 163-unit building for tenants mak-ing
up to 60 percent of the area median
income, which is $51,540 for a family
of three or $57,240 for a family of four.
www.qns.com I LIC COURIER I MARCH 2018 15
Photos courtesy of The Durst Organization
