A recent panel of industry experts discussed the idea of a rezoning plan for the neighborhood that is so strategically located. The panel discussed the new types of commercial and residential developments that are transforming the neighborhood, and Department of City Planning director Marisa Lago confirmed that this could eventually necessitate a rezoning. Most of LIC manufacturing zones have not been rezoned since the 60s. With the huge revolution brought by e-commerce in the last decade, times seem ripe for a change. Amazon Prime went from next-day delivery to same-day delivery, and now they aim for two-hour delivery. To service that kind of turnaround time newer warehouses and shipping centers closest to Manhattan would be needed.
Developers like Tishman Speyer have been in Long Island City since 2000 and have been strong believers in the neighborhood, particularly given its status as a transit hub. The company is currently at work on a 1.1 million-square-foot office-and-retail project at 28-10 Queens Plaza South. And newer real estate players are acquiring properties to refurbish or convert to office, retail and residential.
More and more often different neighborhoods in the city are acquiring a real estate mix that allows people to live, work and enjoy life in the same area; essentially creating towns within the city.Share