City Announces Major Housing Development in Long Island City The New York City Department of Housing Preservation and Development (HPD) announced plans to transform a long-vacant city-owned site in Long Island City into a large-scale mixed-use housing development. The project, named the Orion, will include 983 residential units across three buildings, with 658 of those units designated as permanently affordable. The development is set to be located at 54-42 2nd Street, a 70,000-square-foot parcel known as Parcel E, which was previously part of a failed bid to host the 2012 Olympic Games. The Orion will be developed by a team consisting of Slate Property Group, the Hudson Companies, and the non-profit Volunteers of America Greater New York. Local non-profit Commonpoint will lease and operate a daycare center, a workforce development center, and an indoor community pool at the site. HPD’s First Deputy Commissioner Adam Phillips emphasized that the affordable housing units will be available to low- and moderate-income households across a range of income brackets, from 20% to 120% of the Area Median Income (AMI). Additionally, 149 units will be reserved for formerly homeless individuals, providing them with access to trauma-informed support services. The $700 million project will be funded through a combination of public and private resources, including HPD capital subsidies, low-income tax credits, property tax exemptions, and private equity investments. It is part of the Mamdani Administration’s “Block-by-Block” initiative, a $5 billion housing plan aimed at addressing the city’s housing crisis over the next two fiscal years. Queens Borough President Donovan Richards praised the announcement, calling it a “long time coming” and highlighting the severity of the housing shortage in western Queens.#new_york_city #slate_property_group #long_island_city #orion #hudson_companies
Mamdani Administration to Transform Long-Vacant Queens Site with Nearly 1,000 New Homes and New Community Amenities The New York City Housing Preservation and Development (HPD) announced today that a long-vacant 30-acre site in Hunter’s Point South, Queens, will be redeveloped into The Orion, a mixed-use project featuring nearly 1,000 new homes and a range of community amenities. The development, led by a partnership including Slate Property Group, The Hudson Companies, and Volunteers of America–Greater New York, will include affordable housing for extremely low- to moderate-income households, a daycare center, a workforce development hub, an indoor community pool, and commercial retail space. Hunter’s Point South, a waterfront area along the East River, has undergone significant transformation since its initial vision as a mixed-use, mixed-income community. The site was initially considered for the 2012 Summer Olympics but ultimately failed to secure the bid. Since then, the city has invested in revitalizing the area, creating over 3,000 new homes, commercial retail spaces, three new schools, an award-winning waterfront park, and infrastructure improvements. The Orion represents the next phase of this evolution, targeting a long-vacant lot that will now serve as a hub for housing and public services. The project’s design incorporates a collaborative approach, with Marvel Architects handling the architectural and design aspects. Local nonprofit Commonpoint will lease and operate the daycare, workforce development center, and community pool.#mamdani_administration #new_york_city_housing_preservation_and_development #slate_property_group #the_hudson_companies #volunteers_of_america_greater_new_york
