Bisnow: Innovation QNS Wins Key Approval After Reaching Deal To Add More Housing

A breakthrough has been reached in the negotiations over a planned $2B development in Astoria, Queens, a debate that became a political lightning rod over the future of development in New York City.

Developers Silverstein Properties, BedRock Real Estate Partners and Kaufman Astoria Studios amended their proposal for Innovation QNS, agreeing to produce 1,436 affordable units, 500 of which would be for households earning 30% of the area median income and 157 units reserved for people experiencing homelessness, QNS reports.

Read the full article here: https://www.bisnow.com/new-york/news/construction-development/innovation-qns-developers-reach-deal-with-city-as-council-subcommittee-gives-project-greenlight-116441