There are many exciting planned developments in various parts of New York City and its boroughs. Although in different stages of completion, they will all bring continuing growth and real estate momentum and increased property value to the city.
Following are just some of the top projects on the horizon:
160-05 Archer Avenue, Jamaica, Queens
This is a new apartment rental tower by Shorewood Real Estate Group. As the first project funded by Shorewood’s Opportunity Zone fund and with Hill West Architects, it will span 326,528 square feet, be 24 stories tall, and have 315 units. Its amenities will include ground floor retail, co-working space, a yoga room, and a dog wash. Construction scheduling is the summer of 2019.
545 Vanderbilt Avenue, Prospect Heights, Brooklyn
This is a 231,739-square-foot mixed-use project by Hope Street Capital that will be split between commercial, residential, and community space. It will be 312 feet and 29 stories tall and contain 266 units. Prospect Heights is a relatively small neighborhood in Brooklyn, but it is notable for cultural and demographic diversity of classic 1890s brownstones, older buildings being reconstructed, and newly-built luxury condominiums.
27-01 Jackson Avenue, Long Island City, Queens
Lions Group NYC and Fetner Properties have planned this 151,141-square-foot mixed-use complex that will stand 27 stories high and have 139 residential units and ground-floor retail. The first three floors will have 91 parking spots, and the residential units will begin on the sixth floor.
315 East 13th Street, Manhattan
The New York Eye and Ear Infirmary’s new 112,030-square-foot hospital building will have eight stories and be 130 feet tall. This non-profit teaching hospital is affiliated with the Icahn School of Medicine at Mount Sinai and is among the world’s most prominent ophthalmology and otolaryngology hospitals. It provides inpatient and outpatient care, and every year hundreds of medical students will compete for entrance into and training at this institution, but only seven make it into the ophthalmology program and four into the otolaryngology program. The 14-story building at 310 East 14th Street that previously housed the doctors and staff of the NYEEI was demolished last August.
Overall, a list of the city’s top projects was divided into three in Manhattan, two in Queens, two on Staten Island, two in Brooklyn, and one in the Bronx.