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Affordable Housing Lottery Opens for TF Cornerstone Building on Long Island City Waterfront

Hunters Point South rendering, courtesy TF Cornerstone

Sept. 23, 2020 By Christian Murray

The affordable housing lottery has opened for TF Cornerstone’s two-tower development that is part of the Hunters Point South 5,000-unit mega plan.

TF Cornerstone announced today that applications are now being accepted for 185 of the 719 affordable units that are being built. Applicants are required to apply on the NYC Housing Connect website and the lottery is open until Nov. 23.

The 185 units will be in the south tower of the development that is going up at 52-41 Center Boulevard.

There are 80 units at 50 percent Area Median Income up for grabs, as well as 65 units at 130 percent Area Median Income and 40 units at 165 AMI (see chart below).

The units are going to be in demand.

In 2014 when the lottery was held for 925 affordable units as part of Phase 1 of the Hunters Point South development 93,000 people applied. The apartments were built by Related Companies on what’s known as Parcels A and B of the seven-parcel HPS development.

TF Cornerstone towers going up (Photo: Queens Post)

The TF Cornerstone development—going up on what’s known as Parcel C– includes a north tower that is 55 stories and a south tower that is 44 stories.

The north tower will have 800 units—including 8,000 square feet of commercial space– and the south tower 394 units. The south tower will include about 6,500 square feet of commercial space and an 8,000 square foot community center.

The two towers will bring 1,194 rental units combined, with a mix of studios, one and two-bedroom apartments.

Sixty percent of the 1,194 apartments will be permanently affordable to low, moderate and middle income residents– 100 of which will be set aside for low income seniors.

Half of the affordable units are being set aside for residents of Queens Community Board 2, which covers Sunnyside, Woodside and Long Island City.

“Hunters Point South is providing New Yorkers from a diverse range of incomes with safe and secure affordable housing in an amenity-rich, waterfront development,” said NYC Housing Development Corp. President Eric Enderlin.

“This lottery will provide 185 individuals and families greater housing and economic security at a time it is needed most,” Enderlin added. “I encourage those who are interested and eligible to visit the new and improved NYC Housing Connect to apply today.”

The applications for the 185 affordable units in the south tower begins today, with leasing for the remaining 209 market rate units expected to begin toward the end of this year.

Leasing for the 534 affordable and 266 market rate units in the sibling North tower, located at 5203 Center Boulevard, is expected to commence in the summer of 2021.

The TF Cornerstone project also includes a stand-alone school.

The two towers are located flush against the perimeter of the parcel on Center Boulevard. There is a cleared-out space in the middle of the site for the school playground and public space that goes toward waterfront.

The project has undergone a series of delays stemming, in part, from the complex infrastructure running below the site. The design had to be changed to make way for Amtrak tunnels and the powerlines below, as well as the late addition of the school.

The opening of the building will be a significant step in the massive, 30-acre Hunters Point South development. The greater HPS development will bring 5,000 housing units spread across seven parcels from 50th Avenue to the Newtown Creek.

Rendering of Hunters Point South development

The first two parcels—referred to as Parcels A and B—were completed by Related in 2015, bringing 925 units and an 1,110-seat school.

The city has selected a development partnership for parcels F and G. In 2018, real estate firm Gotham and non-profit Riseboro Community Partnership, were picked by the city to bring 1,120 units to be spread out on the two parcels.

Of the units, 900 will be permanently affordable, including 93 for seniors.

A standalone elementary school is currently going up on Parcel F.

The parcels are located on the southernmost portion of the development and are flush along 57th Avenue and 2nd Street.

Parcels D and E have been used for construction staging while the other sites are being developed.

The creation of Hunters Point South Park is part of the overall development. The first phase opened in 2013 and the second phase in 2018. The combined park is now 11 acres.

Income Levels (NYC Housing Connect)

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One Comment

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paul

Great, with a pandemic going around, we are gonna make the city more dense. These financial crisis goes in cycles. After the great work of people like FDR, LBJ, MLK re progress the limo liberals came in and helped bankrupt the city with the welfare state.

The republicans came in and solved the problem but then turned the city into an area only the rich can afford and thus another crisis spurred on by the pandemic.

The cycle will continue.

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