Reports: New York City Council Approves $2B Mixed-Use Project in Queens

NEW YORK CITY — The New York City Council has approved Innovation QNS, a $2 billion mixed-use project that will be located in the Astoria neighborhood of Queens, according to reports from multiple news outlets such as Crain’s New York Business and Patch. A partnership between BedRock Real Estate Partners, Kaufman Astoria Studios and Silverstein Properties is developing Innovation QNS, which will span five city blocks and will be an expansion of the Kaufman Arts District. The various reports differ on the exact size of the multifamily component, but the project page on the website of Silverstein Properties states that plans call for approximately 2,700 units, about 700 of which will be affordable. In addition, Innovation QNS will feature 200,000 square feet of retail, restaurant and entertainment space, as well as 250,000 square feet of office space, a grammar school that can support 600 students, health and wellness facilities and two acres of programmable outdoor space.