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Long Island City News

Breaking Ground at Year End 2009. $222 Million in NYC Budget + $92 Million for Hunters Point South Housing Subsidies


Rendering: Arial View of Hunters Point South from the East River

 

Long Island City, NY March, 25, 2009 - While addressing a gathering of business and community leaders, gathered at a meeting of Long Island City Business Development Corporation, Seth Pinsky, President, New York City Economic Development Corporation, discussed a NYC plan to implement a three part "WORK" strategy to stimulate the economy.

 

  • Making Government WORK more efficiently and effectively
  • Creating WORK Opportunities for New Yorkers
  • Investment in Public WORKS infrastructure
Pinsky also announced that NYC was about to close on the Hunters Point South project and had $220 million in the capital budget plus $92 million in housing subsidies. The City recently purchased the property from The Port Authority of New York and New Jersey. Expecting development to take 10 years, it intends to break ground at the end of 2009. Additional projects presented included Gotham Center, Queens Plaza, Jackson Avenue, and Willet's Point

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