TF Cornerstone

affordable housing, Long Island City, Major Developments, Queens

Rendering of Hunters Point South courtesy of Handel Architects

Plans to redevelop Hunters Point South, a project first proposed by former Mayor Michael Bloomberg, is finally making some headway. The city’s Department of Housing Preservation and Development and the Housing Development Corp. on Thursday selected a proposal that will bring a 1,120-unit apartment complex, with 80 percent of them permanently affordable, to the southern tip of the Long Island City neighborhood. According to the Wall Street Journal, the $500 million, two-tower project is being developed by Gotham and RiseBoro Community Partnership Inc.

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Construction Update, Design, Major Developments, Midtown West, Rentals

606 West 57th Street, TF Cornerstone, West 57th

Construction progress as of mid-October, via CityRealty

In May 2012, TF Cornerstone (TFC) entered a 99-year ground lease for the building’s site that spans nearly a full city block and measures 63,000 square feet. Now topped out and fully skinned, the massive rental at 606 West 57th Street has a less flashy appearance than renderings previously hinted, but still features an impressively imposing, boxy design, as CityRealty reported. Designed by Arquitectonica, the 42-story, 1.2 million-square-foot building will contain a whopping 1,028 apartments. It joins other West Side gems like the Helena and the pyramid-shaped, Bjarke Ingels-designed Via57 West.

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Long Island City, Major Developments, New Developments, Policy

TF Cornerstone, Hunters Point South, ODA Architects

Updated rendering of parcel c for Hunters Point South, courtesy of ODA Architecture

TF Cornerstone on Thursday filed its first permits for a 1,200-unit apartment building as the second phase of the city’s Hunters Point South redevelopment, a project that first began in 2013. The plan for the waterfront neighborhood in Long Island City, Queens called for a mixed-use, affordable housing development that would hold up to 5,000 units, with 60 percent of them affordable. Selected for phase two of the ambitious project by Mayor Michael Bloomberg’s administration, TF Cornerstone’s original proposal was delayed for four years after local, state and federal authorities forced the developer to rethink its design (h/t Crain’s).

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Design, Long Island City, Queens, real estate trends

newtown creek, amazon, long island city

Rendering of the Hunters Point South project, courtesy of NYCEDC

An eight-acre, 1.6 million-square-foot residential site next to Hunters Point South is for sale, a piece of land owned by a family for generations. According to the New York Post, the site could potentially bring in $480 million if targeted to market-rate condominiums since land in Long Island City sells for roughly $300 per square foot. The triangle-shaped plot of land found at 55-01 Second Street and bounded by 54th Avenue and Vernon Boulevard, sits on Newtown Creek, an estuary that forms part of the border between Brooklyn and Queens. The site might make the perfect spot for Amazon’s second headquarters as the tech giant seeks 500,000 square feet for their HQ2 by 2019.

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affordable housing, Downtown Brooklyn, housing lotteries

33 Bond Street, Handel Architects, TF Cornerstone, Downtown Brooklyn affordable housing, Downtown Brooklyn rentals

Rendering via TF Cornerstone

Applications are currently being accepted for the second phase of affordable apartments at 33 Bond Street, a building nestled among the bustling neighborhoods of Downtown Brooklyn, Boerum Hill and Cobble Hill. The 25-story building sits just one or two blocks from all major subway lines and is within walking distance to Fort Greene Park and the Barclays Center. New Yorkers earning 40 and 120 percent of the area median income can apply for units ranging from a $613 per month studio to a $2,519 per month two-bedroom.

Find out if you qualify

Long Island City, New Developments, Rentals

TF Cornerstone, LIC development

Rendering courtesy of TF Cornerstone

The waterfront Queens neighborhood of Long Island City has gone from a sleepy, factory town to boasting the country’s largest number of new rental apartments. Now, to preserve some of LIC’s industrial backbone, a new development proposal from TF Cornerstone calls for a massive $925 million mixed-use complex, which will include 1,000 rental apartments and 100,000 square feet of light manufacturing space. As the New York Times reported, the project comes at the city’s request in 2016 for mixed-use project proposals with a focus on commercial and industrial space.

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affordable housing, Chelsea, housing lotteries

TF Cornerstone is once again accepting applications for affordable studio, one- and two-bedroom units at their very well located Chelsea Centro rental at 200-220 West 26th Street. The full-time doorman building was erected in 2001 and boasts an 80/20 mix of low-income and market-rate units. As noted by the NYC Department of Housing Preservation and Development, TF will be accepting applications from qualifying individuals and families until all the building’s affordable vacancies have been filled and its waiting list replenished. The current units up for grabs range from $1,215 per month for a studio up to $1,574 per month for a comfortable two-bedroom spread.

find out if you qualify here

affordable housing, Downtown Brooklyn, housing lotteries

33 Bond Street, Handel Architects, TF Cornerstone, Downtown Brooklyn affordable housing, Downtown Brooklyn rentals

A new 25-story rental building in booming Downtown Brooklyn is nearing completion at 33 Bond Street, just a block or two away from almost every subway line and a few blocks from BAM. Developer TF Cornerstone paid $70 million for the site, a former parking garage, in early 2014, partnering with Handel Architects on the rather standard, bulky, glassy design. In total, there will be 714 apartments, 143 of which have been set aside as affordable. These below-market rate units are now up for grabs through the city’s affordable housing lottery and range from $897/month studios to $1,166/two-bedrooms for households earning 60 percent of the area median income.

Find out if you qualify

Architecture, Construction Update, Midtown West

606 West 57th Street, TF Cornerstone, Hudson River, Pyramid, Arquitectonica, Bjarke Ingels, Construction, NYC rentals

Site excavation continues on TF Cornerstone‘s (TFC) mammoth 42-story rental development at 606 West 57th Street between Eleventh Avenue and the West Side Highway.

Midtown’s 57th Street has become synonymous with superlative titles, with the tallest, the thinnest, most expensive, and, arguably, some of the most exciting high-rises the city has seen in decades. At the far west end of the two-mile thoroughfare, TFC has joined in on the megalomania with a 1,028-unit, 1.2 million-square-foot rental building that will become the second largest apartment building in the city after Moinian‘s SKY project a few blocks south.

More details ahead

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