Crain’s spoke with John Mavroudis, Alma Realty’s go-to guy. Alma developed a number of projects throughout Queens and is gearing up to begin construction on Astoria Cove, a 1,700-unit complex with a school, ground-level retail and a supermarket next to Hallets Point. According to Mavroudis, the two projects “will feed off each other at some point. When they are both done, the whole picture will be painted. This is all going to provide for a continuation of the Astoria Park waterfront esplanade.” It’s unclear when the company will begin seeking city approvals for the large development and how long construction is expected to last; Mavroudis rather spoke to Crain’s about the low-profile development company as a whole. He said that after the 2008 market fallout the company focused on retail and existing buildings, but it acquired several properties between 2010 and 2012. Currently, Alma shifted its focus back on development and construction.
Developer Covers Queens Waterfront [Crain’s]