Posted Nov 15, 2018, 2:46 AM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 51,919
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https://therealdeal.com/2018/11/14/t...d-use-project/
This dev site next to Amazon’s LIC campus could be home to an 800K sf project
Plaxall is holding onto the land, located between 46th Road and 46th Avenue
By Rich Bockmann and Kathryn Brenzel November 14, 2018
Quote:
Plaxall isn’t completely handing over its large Long Island City project to Amazon.
The family-run plastics company, which last year developed a 15-acre plan that appears to have been the key to luring Amazon’s HQ2 to New York, will retain a site just to the south of the tech company’s planned campus where it can develop its own commercial building, according to a memorandum of understanding between the company and the state and city’s respective economic development arms.
“The Plaxall sites to the south, they are going to be almost exclusively commercial,” James Patchett, head of the New York City Economic Development Corporation, said during a press conference Tuesday announcing Amazon’s selection of Long Island City as the home of its new headquarters. “There’s some residential that we’re still contemplating as part of the general project plan for the southernmost section of those sites, but in the aggregate, it’s a commercial plan now focused on that. I’m not saying there won’t be any residential units as a part of it, but we’ll be having conversations with the community.”
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Quote:
Amazon plans to redevelop the northern portion of that site for its HQ2 headquarters, which will initially span 4 million square feet and could grow to as much as 8 million square feet.
Plaxall, however, will retain the southernmost block of the larger project: a group of properties that sit on the block between 46th Road and 46th Avenue. The six property lots, which cover nearly the entire block, would allow Plaxall to build a mixed-use building slightly larger than 800,000 square feet, or a residential building of nearly 566,000 square feet.
Under the residential plan, the new building would be subject to the city’s Mandatory Inclusionary Housing requirements, and under either scenario, Plaxall would set aside 5 percent of the space for light industrial use.
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The remaining areas that were part of the original planned rezoning...
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Last edited by NYguy; Nov 15, 2018 at 2:59 AM.
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