TF Cornerstone Nears Completion on 1.4 MSF Residential Development in Queens

by John Nelson

NEW YORK CITY — New York City-based developer TF Cornerstone is nearing completion on 2-20 and 2-21 Malt Drive, a 1.4 million square-foot apartment complex in the Long Island City neighborhood of Queens. At full build-out, the project will deliver 1,386 apartments across two buildings, as well as retail space and a public park.

2-20 and 2-21 Malt Drive are situated on Malt Drive, a new city street that was named as a nod to the site’s history as a sugar cane processing facility that later became a beer distribution center. The project is located within the 30-acre Hunter’s Point South mixed-use development.

The South building at 2-20 Malt Drive will rise 33 stories and feature 575 units. The adjacent North building will comprise 811 apartments across two towers at 2-21 Malt Drive. Thirty percent of units at both buildings will be set aside as affordable housing, which will be leased at 130 percent of the area median income. The buildings were designed by SLCE Architects.

Planned amenities include on-site parking, bicycle storage, co-working space, children’s playrooms, lounges, fitness centers, shared laundry rooms as well as in-unit washers & dryers, roof decks with BBQ grills, sundecks and courtyards. 2-20 Malt Drive will also feature a pool and a third party-operated dog groomer, which will also be accessible to residents of 2-21 Malt Drive.Select units in both buildings will feature private outdoor space.

Leasing for both buildings is expected to begin this summer. The South building will open for leasing first, followed by the opening of the North building.

The development also includes the construction of Malt Drive Park, which will add 3.5 acres of park space to the adjacent Hunter’s Point South Park and extends public access along the shoreline by approximately 700 feet. The park will feature paths with seating areas, a dog run, outdoor classroom, play structures, picnic areas, an open lawn, native plants and industrial artifacts reclaimed during construction. SCAPE Landscape Architecture designed the park.

The project will also feature 25,000 square feet of retail space. TF Cornerstone plans to lease the space to smaller-sized retail tenants to preserve Malt Drive’s “local character.” A local coffee shop will anchor the retail component.

“Queens embodies community, and we love being a part of that in Long Island City,” says Jon McMillan, senior vice president and director of planning for TF Cornerstone. “At Hunter’s Point South we are part of a growing neighborhood and hope to continue to contribute to its evolution with new housing, parks, waterfront access — even a new street — all in an area with a fascinating history.”

— Channing Hamilton

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