July 12, 2016 Staff Report
Offices, and lots of them, are on their way to Long Island City.
Rob Speyer, CEO of the real estate firm Tishman Speyer, announced its plans yesterday for the construction of a two-tower, 1.1 million-square-foot office and retail development at Queens Plaza.
The project, which includes two 27-story towers designed by Raul De Armas of MdeAS Architects, will be located at Jackson Avenue between 42nd Road and Queens Plaza South, according to building permits. The towers have been dubbed One and Three Gotham Center, as the Real Deal has previously reported.
Construction will commence in early 2017 with completion anticipated in 2019.
The towers will be connected by a four-story podium that will include a mix of retail stores, a food hall, restaurant and parking garage.
More than 800,000 square feet of the office space available in the development has been pre-leased, including 250,000 square feet to the coworking company WeWork, according to Tishman Speyer.
Tishman Speyer also announced that it has partnered with the Qatar-based international investor Qatari Diar on this development and also secured financing from the Bank of the Ozarks.
This project concludes Tishman Speyer’s purchase of 1.8 million square feet of development rights from City, which included the adjacent to 2 Gotham Center, a 21-story building that was completed in 2011 and is home to the Department of Health.
Maria Torres-Springer, president of the City Economic Development Corporation, stated that the new development will bring 2,000 permanent jobs to western Queens.
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Jimmy Van Bramer: We’re going to sell you to the developers, LIC, and you’re going to make them and me a lot of money. You want to be a start don’t you? No lube.