On July 11th, New York City Economic Development Corporation agreed to partner with Tishman Speyer to build two office towers in Long Island City, contributing to the city’s growth as an entrepreneurship and innovation hub. The 1.1 million square feet project will create more than 2,000 permanent jobs when completed in 2019, in addition to 1,500 construction jobs when building begins in 2017.
The deal between NYCEDC and Tishman Speyer addresses the city’s growing need for commercial space and the desire to develop as an innovation center. Complete with a four-story podium between the buildings that will include several retailers and a restaurant, the City of New York hopes the office towers, located on Jackson Avenue from Queens Boulevard to 42nd Road, will help make Western Queens a popular destination for business and economic activity.
“This project will be a major job generator for Long Island City,” Deputy Mayor for Housing and Economic Development Alicia Glen said in a recent press release on NYCEDC. “What rises at this site will not only spur our economy, but make Queens Plaza a more dynamic place to live and work.”
The City of New York has been hard at work trying to develop Western Queens into a bustling economic neighborhood. In February, NYCEDC began to take proposals for two city-owned waterfront sites that total more than 1.2 million square feet. The City aims to convert these spaces into offices, houses, open space and a school, further transforming Long Island City into a vibrant, modern, and innovative community.
