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NYC selects teams to build The Orion, 980 homes in Queens
The project is slated to cost $650M to $700M, with two-thirds of units designated as affordable housing.
New York City has selected Slate Property Group and The Hudson Companies, along with nonprofit developer Volunteers of America, to develop The Orion, a 980-unit housing project in the Queens neighborhood of Hunter’s Point South, according to Bisnow.
The development will be built on a 70,000-square-foot site at 54-42 Second St., with construction expected to start in the next few years. The project is projected to cost between $650 million and $700 million.
City officials said two-thirds of the apartments will be set aside as affordable housing, with the majority earmarked for extremely low- to moderate-income New Yorkers. About 149 of the 658 affordable units will operate as supportive housing.
The plan includes three residential buildings plus 6,000 square feet of retail space and 9,000 square feet of community space operated by local nonprofit Commonpoint Queens, including a childcare center, workforce development center, and an indoor community pool. The deal involves the city selling the land to the developers, subject to regulatory approval, and the city expects to provide some form of subsidy using the low-income housing tax credit.