The Durst Organization and Lincoln Equities Group are planning to move forward with the rest of the Halletts Point mixed-use mega-development planned along 1st Street between 26th Avenue and Astoria Boulevard, in eastern Astoria.
After the developer broke ground early last year on the first building, a 22-story, 405-unit tower at 26-01 1st Street, the remaining six buildings were shelved due to the expiration of the 421-a tax abatement. Now that the state legislature passed the tax break’s replacement earlier this month, called Affordable New York, work will continue on the rest of the project, the Times Ledger reported.
Once complete, there will be roughly 2,400 rental apartment across seven buildings, 484 units of which will be designated affordable and rent at below-market rates through the housing lottery. There will also be commercial-retail space. Dattner Architects is responsible for the architecture. The first building is expected to be complete in 2018.