Astoria, Real Estate
Nov 13, 2014

27 Percent Affordable Housing Units for Astoria Cove

That’s the outcome for Astoria Cove—the developers will have to provide 27% of the units as affordable—that’s 468 total. And 20% of that will be for low income folks. The (…)

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A rendering of Astoria Cove by Studio V.

That’s the outcome for Astoria Cove—the developers will have to provide 27% of the units as affordable—that’s 468 total. And 20% of that will be for low income folks. The news seems to be on everyone’s lips and for good reason—this is the sizeable step forward in getting more affordable—including middle income and low income—housing in a new development.

Here’s Councilman Costa Constantinides’s statement:

Today we reached an agreement on Astoria Cove, which was approved by the Council Zoning sub-committee and Land Use committee. I am happy to have reached this historic agreement. For the first time in City history, this developer will be required by law to provide permanently affordable housing that is within the reach of Astorians. Twenty-seven percent of the entire development will be affordable at rates better than previously offered—20% of the development will be reserved for low-income households and monthly rents will be as low as $800 per month. These rates make the agreement innovative, contextual, and inclusive of our community.

We also learned that the development will employ union workers. Costa goes on to tell us that Astoria Cove will include retail, a supermarket, a new school, a renovated local library, upgraded parks, and an upgraded senior center at the NYCHA Astoria Houses. A new ferry dock will be built, too, which is great news—public transit in that part of Astoria is rather lacking. (But will ferries be enough?).

Costa also commented on his Facebook page, “There is a provision in the zoning text that gives preference to people who live within Community Board 1, including Astoria.”

He goes on to thank the de Blasio administration, as well as his fellow Council Members—especially Greenfield and Weprin. Borough President Katz, and Speaker Mark-Viverito also assisted in the process. The Queens Courier reminds us that “the project still has to go through a full City Council vote on Nov. 25.”

The fear now among some is that landlords all around Astoria will jack up the rents. We certainly hope this is not going to be the case, but how about you—do you see this as a realistic future for housing in Astoria? Leave us a comment or a tweet!

About Meg Cotner

Meg Cotner was trained as a harpsichordist and now works as a freelance writer and editor. She is the author of "Food Lovers' Guide to Queens," and is a skilled and avid home cook, baker, and preserver.

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