Billion-Dollar Complex Aims To Revitalize Flushing
A billion-dollar real estate project aims to transform Flushing, Queens, infusing the area with jobs, shops and much-needed housing units. NY1's Tara Lynn Wagner filed the following report.
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With bustling streets and Citi Field construction happening nearby, Flushing is a Queens neighborhood that is awash with activity.
“Flushing is booming,” says Queens Councilman John Liu.
Part of this boom includes a billion-dollar retail and residential project by Muss Development.
“It shows a tremendous amount of confidence. Flushing is one of New York City’s most important, fastest-growing neighborhoods,” says Jason Muss of Muss Development.
Built on 15 acres of raw land, Sky View Parc will feature an 800,000 square-feet mall, anchored by some big-name chain stores: Target, Home Depot and Bed, Bath and Beyond. Beyond the stores will ultimately rise some 1,100 new condominium units.
“Queens is one of the most undeserved housing markets in the world. You have 2.2 million people and a vacancy rate of under 1.5 percent… and you also have basically no new housing,” says Muss.
Muss says he priced the properties at a rate that's appropriate with the area, from studios starting above $350,000 to penthouses costing millions. The price include an array of elevated amenities like tennis courts, putting greens and a swimming pool – from which Sky View Parc gets its name.
“All the luxuries you can imagine for yourself in the finest country club in Florida, you have here in Sky View Parc,” says Muss.
“All different kinds of people are coming to Flushing and this new building will only further enhance Flushing's status as a destination of choice,” says Liu.
The building is still in its skeletal phase but Muss says all three towers will be occupied by 2009. In addition, the company is developing plans to build three additional towers at the site.
“It's all market-driven. It really depends on how quickly we get through the first three towers,” says Muss.
About 130 condos have sold since February, despite having no completed units for residents to tour. Instead, the company built a state-of-the-art sales center complete with flat screen panels that offer buyers a virtual tour through renderings, floor plans and a depiction of what their precise view of the skyline from Sky View Parc will be.
“It's exciting and we think we're building something that is one of the most special projects that Queens has ever seen,” says Muss.