LIC slated for 658 new affordable units in Orion development
The next residential development slated for the Long Island City waterfront will feature nearly 70 percent affordable units, in HPD’s first deployment of the Adams-era mixed-income financing push.
Slate Property Group, the Hudson Companies and Volunteers of America Greater New York announced a nearly 1,000-unit waterfront development on city-owned land in Hunters Point South.
The Department of Housing Preservation and Development gave its blessing to the trio of developers, who plan to build 658 new affordable units across three buildings dubbed the Orion at 54-42 2nd Street. The development designed by Marvel Architects will also lease space to nonprofit Commonpoint Queens to operate a daycare, workforce development center and pool on site.
(Another building known as Orion Sunnyside already exists in Queens at 43-46 39th Place, also featuring affordable units available on Housing Connect.)
Hunters Point South was buzzing with construction activity at multiple nearby high-rise developments on Wednesday morning. City Council approved the final neighborhood rezoning of the Adams administration last November, which at the time was projected to bring 14,700 new homes to 54 blocks in Long Island City, including 4,300 affordable units.
The newly announced development marks the city’s first use of HPD’s Mixed Income Market Initiative, a framework intended to leverage market-rate units to finance affordable units. The Orion will also feature 150 apartments for formerly homeless individuals and offer supportive services on site, alongside extremely low-income, moderate-income and market-rate options for a total of approximately 980 units.
“This project’s really creative, in that it’s a mixed-income site, but not just a few units for people who are struggling, it’s actually a majority of the units,” said Volunteers of America CEO Dr. Jeffrey Ginsburg. “This is not a building where just the 30 percent paying market rate get the amenities, they are shared by everybody.”
The indoor pool located on the ground floor will primarily be available to residents, but also available to the wider community through Commonpoint’s programming, according to an HPD press release.
“We want to make sure we are focusing our investments in areas where there’s not already tons of affordable housing developments,” HPD First Deputy Commissioner Adam Phillips said. “We have our criteria, we have what we expect, but the development team can also move the needle and show that they can make the project pencil with deeper affordability.”
Borough President Donovan Richards Jr. said Wednesday he hopes that NYCHA residents at nearby Queensbridge Houses, the largest public housing development in North America, would have a chance to move into new affordable housing units at The Orion.
The new development doesn’t include any plan for a transfer of assistance program, which Mamdani has touted as a key solution in his administration’s affordable housing toolbox. Queensbridge residents will need to apply through the housing lottery, and are ineligible for the 20 percent of community preference units set aside, given their location just beyond the Queens Community Board 2 boundary.
What we’re thinking about: Is the Mamdani administration on pace to build 200,000 new affordable units over the next decade? Should Adams-era rezonings and programs count toward that total? Let me know how you define success at ben.miller@therealdeal.com.
A thing we’ve learned: The creators of the Hulu sitcom “Not Suitable for Work” prioritized making the show’s Murray Hill apartments look “believable.” While 1990s network sitcoms based in New York City such as “Friends” and “Seinfeld” were filmed on large sound stages with multi-camera setups in front of live studio audiences, “Not Suitable for Work” is shot on a handheld camera on small sets in Williamsburg that are modeled on real apartments in the Midtown neighborhood.
— Spencer Davis
Elsewhere…
— A sixth person has died in connection with the Legionnaires’ disease outbreak on the Upper East Side, the New York Daily News reports. The outbreak of the severe form of pneumonia has infected 90 people and hospitalized more than 70.
— New Yorkers will need to prove they’re adults before using social media in January, Gothamist reports. Gov. Kathy Hochul and Attorney General Letitia James announced that the SAFE Act, a law enacted in 2024 to protect children from social media addiction, will require the platforms to verify a user’s age and prevent minors from receiving notifications between midnight and 6 a.m.
— Mayor Zohran Mamdani ordered every New York City agency to cut spending by 2.5 percent as he tries to weather a multi-billion-dollar budget deficit, the New York Daily News reports. Mamdani previously ordered city workers in January to cut 1.5 percent of their spending for the 2026 fiscal year, which ended July 1, but he’s upped his ask for the 2027 and 2028 fiscal years as the city navigates a budget gap that City Comptroller Mark Levine has estimated could be as high as $8.8 billion for fiscal year 2028.
— Spencer Davis
Closing time
Residential: The most expensive residential sale recorded Wednesday was $15.4 million for a 5,866-square-foot condominium at 45 East 22nd Street in Flatiron. Prior to this trade, the unit sold for $14.5 million in July 2023.
Commercial: The most expensive commercial transaction was $188.9 million for three apartment buildings: 42 W 58th St traded for $72.8 million, 123 W 44th St for $63.9 million and 330 E 56th St for $52.2 million. The California State Teachers’ Retirement System sold to Korman Communities.
New to the Market: The highest price for a residential property hitting the market was $6 million for a 2,996-square-foot triplex at 235 Sackett Street in Carroll Gardens. The Scott Robles Team at Douglas Elliman has the listing.
Breaking Ground: The largest new building permit filed was for a proposed 13,660-square-foot, 19-unit residential project at 3609 Willett Ave in Williamsbridge. Nikalai Katz filed the permit on behalf of Arlind Kastrati.
— Matthew Elo
