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.