More towers to rise in Long Island City

At the LIC Partnership’s annual LIC Summit last month, one of the more interesting panel discussions was entitled “The Next Wave of Development in LIC” and it included representatives of developer Tishman Speyer, the New York City Economic Development Corporation, and the shared-office-space firm WeWork. Now all three are involved in a new megaproject that will bring two 27-story towers to the Long Island City skyline, providing 1.1 million square feet of office space along Jackson Avenue from Queens Boulevard to 42nd Road.

“There is a subset of tenants who are looking for quality space but can’t afford it in Manhattan and they are looking at LIC,” Tishman Speyer’s Chris Shehadeh told the crowd at the LIC Summit.

On Monday, the NYCEDC announced the closing on the $700 million project, which will create 1,500 new construction jobs and 2,000 permanent jobs. Construction will commence in early 2017 with completion anticipated in 2019.

“This project will be a major job generator for Long Island City,” Deputy Mayor for Housing and Economic Development Alicia Glen said. “We are focused on growing good jobs across the outer boroughs and meeting the demand for new office space. What rises on this site will not only spur our economy, but make Queens Plaza a more dynamic place to live and work.”

Read more: http://www.timesledger.com/stories/2016/29/lictowers_2016_07_15_q.html