TF Cornerstone Tapped for 1.5 MSF LIC Development

By IvyLee Rosario

Anable Basin rendering

TF Cornerstone, along with development partners Greenpoint Manufacturing and Design Center (GMDC), Coalition for Queens (C4Q) and BJH Advisors, were selected to develop a 1.5 million-square-foot mixed-use project in Long Island City‘s Anable Basin inlet. 

The 4.5-acre site will include 1,000 residential units, 400,000 square feet of commercial, 10,000 square feet of industrial, 19,000 square feet of retail and academic spaces throughout. 

“We are long-term investors in Long Island City and particularly the waterfront, which provides a unique mix of views, greenspace, and transit access,” Jake Elghanayan, principal & senior vice president at TFC, told Commercial Property Executive. “I believe TFC and our partner organizations were selected because we eagerly embraced the city’s vision to bring together a diverse set of use groups that are important building blocks of a vibrant urban community, even though each component might be not economically viable in isolation.”

Development Breakdown

• 25 percent of residential units designated as affordable
• 80,000-square-foot public school
• 25,000-square-foot performing arts training facility
• one-acre park with recreational space
• 277,500 square feet of office
• 80,000 square feet of start-up office space
• 22,500 square feet of pre-built, flexible incubator space
• 5,000-square-foot FAB LAB for digital fabrication and hardware prototype assembly
• 10,000-square-foot Arts and Technology Accelerator
• 10,000 square feet of classroom space

ODA, Handel Architects and Mathews Nielsen Landscape Architects are the architects on record. C4Q will assist with the commercial programming to provide software training for underserved communities and serve as a connector to the technology community, GMDC will provide affordable and accessible quality industrial space, and BJH will support additional linkages to the industrial and scientific/technology based commercial sectors.

“One of the primary goals of this project is to support the commercial, technology, artisan and industrial businesses of Long Island City, while also balancing that work environment with market and affordable housing,” added Elghanayan, in prepared remarks. “By providing dedicated space for skilled job training programs, the project will generate a diverse set of economic and employment opportunities for New Yorkers.”   

Image courtesy of TF Cornerstone