Councilman Costa Constantinides posted this on his Facebook yesterday,
“Today we reached an agreement on Astoria Cove, which was approved by the Council Zoning sub-committee and Land Use committee. I am happy to have reached this historic agreement. For the first time in City history, this developer will be required by law to provide permanently affordable housing that is within the reach of Astorians. Twenty-seven percent of the entire development will be affordable at rates better than previously offered – 20% of the development will be reserved for low-income households and monthly rents will be as low as $800 per month. These rates make the agreement innovative, contextual, and inclusive of our community. The agreement will help transform Astoria for the better. It includes a unionized workforce, retail and a supermarket, a new school, a renovated local library, upgraded parks, and an upgraded senior center at the NYCHA Astoria Houses. The agreement also includes a fully-funded ferry dock to help increase public transit service in an area that is an over-15 minute walk to the nearest subway.
I am honored to have had a great partner in the de Blasio administration during this historic negotiation process. I am proud of this agreement and I thank Council Members Greenfield and Weprin, Borough President Katz and Speaker Mark-Viverito for their leadership and guidance in this historic process, as well as my other colleagues in the Council.”
The next step in the process is to go through the Land Use Committee -but at this point, it looks like we should be prepared to see the development come to life.