Rockrose closed on $270 million worth of financing last month for its two-tower, 974-unit development at 43-25 Hunter Street in Long Island City, and now the complex is rising fast near Court Square and Sunnyside Yards.
When YIMBY stopped by last week, the concrete superstructure had reached 14 stories, after only peeking above street level in June.
Ultimately, the complex will host a 14-story building and a 50-story high rise with a mix of affordable and market-rate apartments. 974 units will be spread across 767,305 square feet of residential space, and average units will clock in around 787 square feet.
Twenty percent of the apartments, or 194 units, will rent at below-market rates to families who make 60% of the Area Median Income or less. The other 780 units will be rent-stabilized and market-rate, according to the Commercial Observer. The paper also claims that 43-25 Hunter is the largest 80/20 project under construction outside of Manhattan.
The ground floor will have 18,800 square feet of retail, along with a pet wash, lobby, parking, and storage space for 434 bikes. 49 stories of apartments will be stacked on top, and each floor will house 13 to 20 units. Amenities will be scattered throughout the floors, including a basketball court, yoga room, shared outdoor terraces, screening rooms, and lounges.
Fortunately, Long Island City’s special district requires very little parking, and this building will only have 67 parking spots between the cellar and first floor.
SLCE Architects is designing the glassy tower, which YIMBY revealed last year.
When construction is finished, the development will become one of Long Island City’s tallest buildings, topping out at 503 feet. The developers hope to wrap up work by the summer of 2017.
Rockrose is also in the process of demolishing the Eagle Electric warehouse a few blocks away at 43-22 Queens Street. The firm plans to preserve part of the structure and build 780 rentals on top of it.