FOR BREAKING NEWS VISIT www.qns.com MARCH 24, 2016 • The Queens Courier 3 First phase of Flushing Commons gets topped off By Raisa Camargo [email protected] @Raisa4342 Developers reached new heights in the first phase of the Flushing Commons project to an eager crowd on March 18. Spectators gathered around as construction workers put the final beam to top off the 14-story building. Construction will be complete at the end of this year. The 1.8-million-square-foot that encompasses the Flushing Commons project will feature residential, office, retail, parking and community space, and it will be completed in two phases. The first two buildings are under construction as part of Phase 1. Michael Meyer, president of the F&T Group, who is one of three developers, said the mixed-use residence will usher in a new market boom for downtown Flushing. “We always said it’s going to be a transformative project,” he said. “It’s going to be a catalyst for what’s going on – the boom in Flushing right now in real estate development.” More than 90 percent of the office condominiums have been sold, while nearly all other homes in the first phase are under contract, according to Flushing Commons media relations. The penthouse sales have also launched, which includes 18 premier penthouses. The penthouse homes are priced from $968,000 to more than $3 million. The office condominiums’ price ranges from $1.38 million to more than $4 million, according to Fultonex Realty, the marketing and sales agent for Flushing Commons. Meyer said there were ongoing challenges that ranged from redesigning the layout to compromise the plan’s adjustments with the New York City Economic Development Corporation, throughout the 12 years since the project launched. He credits a recent development project initiative from Mayor Bill de Blasio’s administration known as the Flushing Downtown Development Plan (NYCEDC). However, despite the setbacks, Meyer said he always believed Flushing would be at the epicenter of investment because of growing overseas relations. “The confidence this project has brought to overseas and local investors is a big part of the success story,” he said. Asian specialty stores populating the Main Street neighborhood in downtown Flushing has become a haven for property owners. Chinese investors bought more than $28 billion in American residences in 2014, according to the National Association of Realtors. “The vitality that’s in the area is contagious,” said Lieutenant Governor Kathy Hochul, who made an appearance at the topping-off ceremony, along with state Senator Toby Ann Stavisky. Stavisky echoed that same sentiment, while exclaiming that an “entire world had come to Flushing.” Inspired by the onset of recent development, Peter Tu, executive director of the Chinese Business American Council, said they had supported the project’s massive expansion since it first launched. The project is part of multi-partnership with Construction Corporation, F&T Group, the Rockefeller Group, AECOM Capital and Mount Kellett Capital Management. The development cost is estimated at $850 million, according to NYCEDC. “When I arrived on this team more than 12 years ago, this was really a congested, blighted area,” Meyer said. Rendering courtesy Flushing Commons PING-PONG AND VOLLEYBALL COURTS TO OPEN UNDER TRIBOROUGH BRIDGE NEXT SPRING By Angela Matua [email protected]/@AngelaMatua Ping-pong and volleyball enthusiasts will have a new place to play next spring when a lot underneath the Triborough Bridge in Astoria undergoes renovation. The improvements at Triborough Bridge Playground-A, located on 21st Street and Hoyt Avenue North, were announced in 2013 but the project was postponed for safety reasons. The site was being used as a staging area by construction crews working on the bridge above, according to a Parks Department spokesperson. The park will be outfitted with two all-weather permanent ping-pong tables, two new volleyball courts and exercise equipment. A handball wall will be reconstructed and new drains and fences will also be installed. The playground, which is geared toward adults, will also include painted exercise games. Councilman Peter Vallone Jr. first announced the renovations and secured $275,000 for construction along with additional funds from the Parks Department and former Queens Borough President Helen M. Marshall. The complete renovation will cost $825,000, the spokesperson said. Last year, Councilman Costa Constantinides secured $1 million in funding for a dog run underneath the bridge at Hoyt Avenue North between 23rd and 24th streets. DNAinfo first reported the story.
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