The Real Deal: Silverstein, Council strike deal on Queens megaproject

Silverstein Properties, BedRock Real Estate Partners and Kaufman Astoria Studios have come to terms with the City Council for approval of a controversial megadevelopment in Queens.

The $2 billion Innovation QNS will bring about 3,200 apartments to Astoria, 45 percent of them affordable. The deal was struck just before a Council subcommittee vote on the project Thursday morning and comes after months of negotiations, which often spilled out into the public.

The agreement calls for 1,436 affordable units including 500 for households earning 30 percent of the area median income and 157 for homeless people.

Read the full article here: https://therealdeal.com/2022/11/17/silverstein-council-strike-deal-on-queens-megaproject/?utm_source=internal&utm_medium=widget&utm_campaign=feature_posts