Release #467-00

 

Contact:	State of New York Press Office (518) 474-8418 / (212) 681-4640
	City of New York Press Office (212) 788-2958

GOVERNOR, MAYOR, AVALONBAY BREAK NEW GROUND AT QUEENS WEST

$2.3 Billion Queens Waterfront Rebirth Continues with First of Three AvalonBay Towers

Governor George E. Pataki, Mayor Rudolph W. Giuliani, Queens Borough President Claire Shulman, Port Authority Vice-Chairman Charles A. Gargano and AvalonBay Communities Executive Chairman and CEO Richard L. Michaux today broke ground on a new 372 unit apartment building at Queens West.

The building is the first of three new luxury rental buildings to be built by AvalonBay Communities at Queens West, the $2.3 billion residential and commercial development project covering 74 acres at Hunters Point in Queens.

"Queens West is an outstanding example of the great things we can accomplish when the public and private sectors work together toward a common goal," Governor Pataki said. "The future has never looked brighter for the Borough of Queens and this exciting new project will provide greater public access to the waterfront, offer one of the City's most spectacular views, and add even more momentum to Queens' ongoing economic resurgence."

Mayor Giuliani said, "Today's groundbreaking is a significant next step in the development of Queens West. When complete, AvalonBay Towers will provide new homes for more than a thousand New Yorkers as well as approximately 75,000 square feet of retail space. Our efforts in developing Queens West serves as another example of what we can achieve when the public and private sectors work together for the benefit of all New Yorkers."

Queens Borough President Claire Shulman said, "Avalon Riverview's 372 units of market-rate rental housing is a sure success and another step forward in fulfilling the Queens West project. I thank the Governor, the Mayor, the Port Authority, the Empire State Development Corporation and the Economic Development Corporation, for their ongoing support and commitment to Queens West."

Fred Harris, Vice President of Development for AvalonBay Communities, said, "AvalonBay is proud that its first New York City community will be part of the Queens West waterfront development. We look forward to welcoming our residents to one of the finest apartment communities in the United States."

AvalonBay's new buildings will be located on Center Blvd. in Queens, directly across the East River from the United Nations. The first building will be located between 49th and 50th Avenues and will be known as Avalon Riverview. Avalon Riverview, a $103.5 million investment, will be 32 stories with 372 apartment units and a 130-car parking garage. It is expected to open in Spring 2002.

Avalon's plans for three residential buildings completes the first stage of the Queens West project, which includes the 40-story, 522 co-operative Citylights apartment building that opened in April 1997; Gantry Plaza State Park a 2.5 acre park that opened in 1998; P.S. 78Q, a 17,500 square-foot public school for pre-K to 5th grade; the New York Foundation for Senior Citizens' planned 80 residential units; and 97,500 square feet in new commercial and retail space.

Charles A. Gargano, Chairman of Empire State Development and Vice-Chairman of the Port Authority of New York and New Jersey, said, "Queens West exemplifies a new paradigm in urban renewal. Instead of the public sector subsidizing development, we are leveraging the private sector's expertise and financial resources to generate new businesses, job opportunities, housing and improved quality of life for the people of Queens."

Michael Carey, President of the NYC Economic Development Corporation, said, "Queens West is an excellent example of a successful public/private partnership. I look forward to the announcement of the next phase of this exciting development which will include over two million square feet of commercial and retail space."

Oversight for the Queens West project is provided by the Queens West Development Corporation, a subsidiary of Empire State Development Corporation, and is made up of representatives from the State, City, Queens Borough President's office and Port Authority of New York and New Jersey in a joint effort to revitalize the Queens waterfront.

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