Astoria residents, you may recall that leasing began at 20 and 30 Halletts Point in January. Now, the Durst Organization, leading the project, has secured a $135 million investment from Affinius Capital to help complete the development, with move-ins set to start in Spring 2025. These two buildings will bring an additional 647 housing units and 8,000 square feet of ground-floor retail to the peninsula. This investment supports the broader effort of establishing a vibrant waterfront community. In addition to housing, the project will include 40,000 square feet of amenities, such as a state-of-the-art fitness center, game room, coworking spaces, and an outdoor pool terrace with views of the Manhattan skyline. A new publicly accessible walkway along the waterfront is also in the works for all to enjoy. The investment from Affinius will help ensure that the final touches on this development progress smoothly as it moves toward completion. This project is a key part of the Halletts Point masterplan, which aims to build a thriving residential hub. In addition to the current buildings, the masterplan includes a fourth and fifth residential waterfront tower plus one more within Astoria Houses for a total of seven. Other planned features include expanded retail spaces, waterfront access, and community amenities aimed at bringing value to the neighborhood for both new and longtime residents. You can read the Press Release From Affinius Capital here: Affinius Capital Invests $135 Million for Construction of Multifamily Building at 20-30 Halletts Point in Astoria, NY   New York City (February 13, 2025) – Affinius Capital LLC (“Affinius Capital”) today announced the closing of a $135 million investment for the construction of 20 and 30 Halletts Point, a Class A, 27- and 32-story multifamily complex with 647 units and 8,000 square feet of ground floor retail in Astoria, NY....

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We’re excited to share this upcoming event hosted by the Hallets Playground Alliance. Stop by for a day of fun, community, and celebration! Event Highlights: Games, Music, and Dancing Arts-n-Crafts and Seasonal Treats Costume Parade: Make sure to bring a costume! Event Details: Date: Saturday, October 19, 2024 (Rain Date: Sunday, October 20, 2024) Time: 12pm-4pm Location: Hallets Cove Playground, 30-02 Vernon Boulevard Admission: Free! This festival is for all ages and communities! Hope to see you there!

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In a recent development, The Durst Organization has announced a pause on the final phase of its Halletts Point project in Queens. The decision comes as a response to challenges they advised are posed by the newly introduced 485-x tax incentive. According to Durst, the requirements for higher wages for construction workers and an increased quota of affordably priced homes make the project financially unfeasible under this new framework. The project was initially planned to add three residential buildings with a total of 870 units, 25% of which were to be affordably priced under the previously effective 421-a tax incentive. However, this incentive expired in 2022 and was replaced by the 485-x, which has significantly altered the economic landscape for new developments. Durst has expressed that development will not resume until a more favorable tax incentive is implemented. This development hiatus highlights possible broader implications of state policy changes on the real estate sector and underscores the uncertainty facing such large-scale projects. As members of the Old Astoria Neighborhood Association (OANA), we are committed to seeing the proposed developments on the peninsula come to fruition, enhancing Halletts as a vibrant destination for all New Yorkers. After 14 years of periodic delays since the original 2010 zoning approvals, it’s clear that Western Queens has not yet reached its potential. We call on city, state, residents, and developers to engage in dialogue aimed at finding mutually beneficial solutions that will allow the neighborhood to develop and mature. While it is up for debate whether these new tax incentives are too burdensome, OANA remains neutral on the validity of the developers’ stance. Our focus is to end the ongoing delays and promote the creation of a community that meets the housing market’s needs, keeps costs manageable while providing a quality of life unequaled...

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Oana is inviting community members to participate in the January 24th Hallets Point Playground Virtual Community Input Meeting, a vital platform for voicing your ideas and concerns about the park’s redevelopment. Register to join this crucial discussion via Zoom and play a role in enhancing our neighborhood’s green space. RSVP here: https://oana-ny.org/events/hallets-point-community-meeting/

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