What's the New Astoria Waterfront Development Activity?

Crain's New York Business has posted an interesting Q-and-A this afternoon with John Mavroudis, of Long Island City's "under-the-radar" Alma Realty.

The article says the firm of "several hundred employees," established in the 1970s, will soon seek approvals for "a sprawling western Queens waterfront development," Astoria Cove, slated to have 1,700 units, of which 340 will be affordable properties.  The development will include a school, retail, and a supermarket.

The project, which got the City Council's sign-off in October, will be neighbors with the even larger Queens waterfront development, Halletts Point, which reportedly will cost $1 billion, and provide 500 affordable units along with 2,100 luxury apartments, as well as a bank, supermarket, and school.

"The projects will feed off each other at some point," Mavroudis told Crain's. "When they are both done, the whole picture will be ­painted. This is all going to provide for a continuation of the Astoria Park waterfront esplanade."

You can find the Crain's story here.

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