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534 Apartments at TF Cornerstone’s Newest Tower Now Available Through Housing Lottery

Rendering of TF Cornerstone’s two tower development on the Long Island City waterfront (TF Cornerstone)

June 17, 2021 By Allie Griffin

The affordable housing lottery has opened for the next group of apartments at TF Cornerstone’s two-tower development on the Long Island City waterfront.

The developer announced Wednesday that applications are now being accepted for 534 affordable apartments at 52-03 Center Blvd. on the NYC Housing Connect website through Aug. 16.

The apartments are the latest available of 719 affordable units spread across TF Cornerstone’s two towers being built on the waterfront.

The north tower at 52-03 Center Blvd. will have 534 affordable units and 266 market rate units, while the south tower at 52-41 Center Blvd. will contain 185 affordable units and 209 market rate units.

A housing lottery for the 185 units in the 44-story south tower opened in September.

The affordable units make up 60 percent of the 1,194 total apartments the two sibling buildings will bring to the neighborhood. The 719 units will be permanently affordable to low, moderate, and middle-income residents.

The 534 affordable apartments now available in the 55-story north tower include a variety of studio, one-bedroom and two-bedroom units and are available to people who make a variety of incomes — from as low as 40 percent of the area median income (AMI) to as high as 165 percent of the AMI.

Half of the apartments are being set aside for residents of Queens Community Board 2, which covers Sunnyside, Woodside and Long Island City, and about 100 units are being designated for seniors aged 62 and older.

The development will also include an office for Selfhelp Community Services which will provide on-site services for older adults living in the units specifically set aside for senior households. The site will also include park space.

“TF Cornerstone is proud to continue its investment in Long Island City’s waterfront with our development at Hunter’s Point South,” said Zoe Elghanayan, Principal and Senior Vice President at TF Cornerstone.

“With 60 percent of the apartments designated as permanently affordable units and a brand-new public park, we are thrilled to be a part of making the Long Island City waterfront and Hunter’s Point South more accessible and activated than ever before.”

The buildings will offer a plethora of amenities in addition to views of the East River. Residents, for instance, will have access to a fitness center, clubroom, children’s playroom, co-working space and more for an additional monthly fee.

Rendering of a studio apartment at 52-03 Center Blvd. (TF Cornerstone)

The 44-story south tower will include about 6,500 square feet of commercial space and an 8,000 square foot community center as well.

Applications for the 534 affordable apartments are now being accepted through NYC Housing Connect through August. Leasing for the remaining 266 market rate apartments is expected to open towards the end of this summer.

The TF Cornerstone project also includes a stand-alone K-8 school with the capacity to serve 572 students.

The TF Cornerstone 2-tower development is going up on Parcel C.

The two towers are located flush against the perimeter of the site on Center Boulevard. There is a cleared-out space in the middle of the site for the school and public park space that goes toward waterfront.

The opening of the building will be a significant step in the massive, 30-acre Hunters Point South development. The greater HPS development will bring 5,000 housing units spread across seven parcels from 50th Avenue to the Newtown Creek.

The first two parcels—referred to as Parcels A and B—were completed by Related Companies in 2015, bringing 925 units and an 1,110-seat school.

The TF Cornerstone two-tower project is on Parcel C and is close to completion.

The city has selected a development partnership for parcels F and G. In 2018, real estate firm Gotham and non-profit Riseboro Community Partnership, were picked by the city to bring 1,120 units to be spread out on the two parcels.

Of the units, 900 will be permanently affordable, including 93 for seniors.

A standalone elementary school is currently going up on Parcel F as well. The school will open in September.

Parcels D and E have been used for construction staging while the other sites are being developed.

The creation of Hunters Point South Park is part of the overall development. The first phase opened in 2013 and the second phase in 2018. The combined park is now 11 acres.

A full breakdown of the affordable units available at TF Cornerstone’s north tower through the housing lottery is below– including income requirements. To apply click here.

(NYC Housing Connect)

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