New complex arrives to LIC, courtesy of Tishman Speyer
Long Island City continues to bloom
A new complex filled to the brim with amenities is coming to Long Island City. This complex will have three buildings and will be based on Jackson Avenue. The complex is going to be known as Jackson Park and will have more than 1,800 apartments and will have more than 120,000 square-feet of amenities. Furthermore, it will include a 1.6 acre park exclusive for tenants. The developer is Tishman Speyer and the buildings will be 42, 44 and 53 stories high, respectively.
It is interesting that the towers will not include one specific type of apartment, rather a variety of them and different floor plans too. This will be ideal when the time to attract tenants come. Several different people with different lifestyles will be able to find a home here. The whole complex will take up a whole city block. The complex will include, besides the three towers, a five story clubhouse where all the amenities will be available. Furthermore, there will be an outdoor pool. What’s more important, the clubhouse will be easy to access: underground access will connect the clubhouse with the three towers. This building will span 45,000 square feet.
Betting on Jackson Park
The CEO of Tishman Speyer, Rob Speyer, has high hopes for his new development. The company is expecting Jackson Park to become one of the most popular addresses in all of Long Island City. Tishman Speyer is one of the most important developers in LIC, which is one of the most popular markets in the city at the moment. Tishman Speyer delivers a 24/7 experience, where individuals can live, work and play while enjoying everything that New York has to offer.
A recently released real estate report established LIC as the biggest rental boom from the 2010-2016 period. This neighborhood was the number one in the ranking of the 50 neighborhoods with the most new rentals from that same period. The next neighborhood on the list was Downtown Los Angeles, but the difference was big. In that period, LIC added 12,533 new units to its inventory and 41 new apartment towers were built.
Location-wise, Jackson park is across the street from another project of Tishman Speyer’s: the JACX. This other site is comprised by two 26-story towers that span 1.2 million square feet of both office and retail space. Furthermore, this development also includes a beautiful terrace that is landscaped that spans 1 whole acre. The co-working company WeWork has a lease on some space there, along with several fashion companies and other retail specialists.
Going back to Jackson Park, developers have said that a gourmet market, a food hall, a coffee shop, several restaurants and fitness spaces will also be included in the complex. Tishman Speyer will start leasing the space in fall 2017. If everything goes according to plan, tenants will start moving by the end of this year. [QNS]