A group of investors led by ex-Mayor Giuliani's chief of staff, Bruce Teitelbaum, is proposing a massive mixed-use project at Long Island City.
The proposed development will be located at 44-02 Vernon Boulevard, states the Real Deal, wherein Teitelbaum's team is reportedly planning to apply for a rezoning of the area. The planned rezoning will allow the investors to develop more open spaces, as well as introduce affordable housing and, potentially, a school and hotel. The one million square foot development center will feature a massive residential tower just north of 44th Street and along the north side of the Queensboro Bridge.
A pedestrian bridge will also be constructed to link the site to Roosevelt Island, which is said to be the future home of Cornell Tech, according to Politico New York. The Roosevelt Island end of the bridge will land at the southern part of the island and near the site of the applied sciences school. Teitelbaum's team has reportedly envisioned the bridge to be similar to the High Line, which is a pedestrian and bicycle path in Manhattan. The High Line features scenic views of the city's skyline, along with spaces for people to sit and relax.
A source also told the Politico New York that the renderings of the planned development already includes details about the bridge. "Part of the presentation includes renderings for an iconic bridge that connects the new, under-development campus on Roosevelt Island to Queens, which would hopefully attract more economic activity," said the source.
Meanwhile, Meghan French, a spokeswoman for Cornell Tech, shared with the publication that they are excited and intrigued with the idea that the campus and Roosevelt Island will be connected to Queens. French added, "We expect to be an active player in Queens economic development and look forward to learning more and discussing the proposal with other stakeholders."
The Politico New York article also mentioned the two-lot site, which the Teitelbaum-led investors are eyeing for development, is owned by Vernon Realty Holdings, LLC, according to property records. However, another source also told the publication that the Durst Organization owns the note on the property. It is still unclear who really owns the property at this time.
The former chief of staff reportedly declined to comment on the story, stated Politico.
