Flushing Is Flushed With Residential Development Several Significant Projects Underway in Queens Neighborhood

Flushing, Queens (iStock.com)

The Financial District and Williamsburg aren’t the only neighborhoods in New York City brimming with residential development these days.

Not just the home of a booming Asian population and the New York Mets, Flushing, Queens has also made a noticeable splash in the current real estate market thanks to several new residential projects. Here’s a rundown of that activity:

Developer Hung & Chong Real Estate (HCRE) has taken out a $75 million loan from Shanghai Commercial Bank to finance a mixed-use residential and retail development at 144-51 Northern Boulevard, on a site that the company bought several years ago with aid from that same bank. The site reportedly offers 90,000 square feet for new construction amid a bustling commercial thoroughfare -- albeit one that is some distance from the final subway stop along the 7 line. While it's not yet certain whether the project will consist of condos or rentals, it's worth noting that HCRE is responsible for a recent condo conversion on Manhattan's Lower East Side.

Additionally, Century Development is building a hybrid hotel/condo project at 134-37 35th Avenue that is expected to add 100 residential units to the market.

The Tangram project--a 1.2 million square-foot development from F&T Group that will occupy an entire block bordered by Prince Street, 39th Avenue, 37th Avenue and College Point Boulevard--will offer 324 luxury units split between two towers, in addition to a four-star hotel, theater, ground floor retail, and office condos.

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