Location…Location…Location. The battle cry of real estate brokers. And, location is what a new “landmark” plan for middle-income housing in New York City has: Directly across the river from the United Nations in Queens…24 acres!
New York City Mayor Bloomberg made the announcement and, according to Jill Gardiner’s account in The New York Sun, the city is buying the land from the Port Authority for $146 million dollars.
The Mayor reportedly said of the deal that it is a “landmark moment in affordable housing.”
The last time the city undertook such a large project was back in 1974 with the development of Starrett City in Brooklyn.
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Charles FeldmanCharles has written 149 articles for us.
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Charles is currently reporting for KNX Radio in Los Angeles, is the co-author of the book No Time To Think, and can be found commenting about the news on his blog, The Feldman Blog.
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