Two Astoria-based property developers have filed plans for the construction of 402 residential units in Queens, the 'World’s Borough'. Dominick Acquista and Lorenzo Devardo, operating under the umbrella company Across the River Realty Development, sought permission to replace three industrial buildings at 31-29 Vernon Boulevard in Astoria, Queens, with a 20-storey residential tower. This is according to city documents, as first reported by the New York Business Journal.
The LLC submitted the plans to the New York City Planning Commission on Wednesday. It is seeking a zoning map amendment and a text amendment to permit the construction of housing above current height restrictions. The parcel designated for the redevelopment is located across from Vernon Boulevard, beyond which lie Socrates Sculpture Park and the East River. Acquista and Devardo were not available for comment.
Details of the planned project
Of the total 402 residential units, approximately 100 are to be designated as affordable housing. This is being done under the city's Mandatory Inclusionary Housing regulations, which apply to households whose income is 60 percent of the area's median income. The proposed Astoria project also includes 10,108 square feet of commercial space, 3,069 square feet for community facilities, and 26 parking spaces, according to the application documents.
Further developments in Astoria
Other buildings of a similar scale are also planned for Astoria. The Domain Companies secured $175 million in construction loan financing in August for the construction of 429 residential units at 35-45, 35-33 and 35-42 41st Street. In September, Moses Freund's Vaja Group acquired a former Staples building at 24-41 31st Street for $26 million. A mixed-use development with 108 residential units is planned there.
