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Developer plans 140-unit rental building on corner of 21st Street and 49th Avenue

Rendering

Rendering (LICPOST)

Dec. 2, 2013 By Christian Murray

The development of Hunters Point is moving east as plans are in the works for the construction of a 140-unit apartment building at the corner of 49th Avenue and 21st Street.

Maddd Equities, a Floral Park firm, has put forward a plan to develop a 12 story mixed use building– on what is today a parking lot. The plan includes commerical space on the ground floor as well as 28 affordable units.

Jorge Madruga, with Maddd Equities, anticipates that 50% of the units will be 2 bedroom apartments, with the remainder being split between studios and 1 bedrooms. There are no plans at this time for 3 bedroom units.

Madruga said that there will be between 50 and 100 parking spaces in the basement of the proposed building. These should help offset some of the lost parking, he said, when the parking lot is gone.

However, Maddd Equities, which has developed 50,000 units across the city, needs a zoning change before it can start building.

The 5-sided lot, located at 11-55 49th Avenue, has many peculiarities. On one portion of the site, the developer can build five times the size of the land area (FAR 5.0)— while on another segment, the developer can only build 2 times the lot size.

Maddd Equities wants the FAR to be 5.0 across the entire site. It also wants the Long Island City special zoning district to be extended a block to include its site—and also wants the site to be part of the outdoor café district.

These requests will require the company to undertake the Uniform Land Use Review Prodecure (ULURP), which typically takes about seven months. The company plans to file its ULURP application with the Dept. of City Planning in February.

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