Permits Filed for $850 Million Flushing Commons Project

The Department of Buildings is currently reviewing plans proposed by TDC Development International and The Rockefeller Group to start on the $850 million Flushing Commons project, which is about to hit a city deadline for breaking ground. As Crain’s reports, “The duo is seeking approval to spend $3.5 million to modify a portion of Municipal Lot 1, the 5.5-acre parking lot in the bustling neighborhood.” This is only the first step of a much more ambitious plan, which includes 160 residential units, 350,000 square feet of retail or commercial space, a YMCA and a park. The second phase of the project includes 450 more residential units and 150,000 square feet of retail or commercial space. But right now, the permits will mainly allow the developers to clear the way at Municipal Lot 1 to excavate for a new garage. (Under an agreement with the city, the developers must replace the parking spaces in Municipal Lot 1, which will eventually be totally demolished.) The Economic Development Corporation first selected the developers of this project in 2005, and the City Council approved their plans in 2010. Under the contract signed between all parties, the developers have until October 31st to break ground.

Huge Flushing Project Finally Nears Start Line [Crain’s]

Rendering via NYCEDC