New York City is a high-demand market for a reason, with a strong population of young professionals chasing their dreams, businesses opting to locate headquarters in the city, and an entertainment scene that is always thriving. Development projects breaking ground reflect the region’s housing needs and bring unique entertainment and recreational options to residents. From a large nature preserve to a dramatic casino renovation, the projects will breathe some new life into historic neighborhoods.
Here’s a closer look at some of the development projects changing the landscape of a historically high-demand market:
L+M Development Partners embarked on an ambitious vision with Arverne East, transforming a 116-acre vacant waterfront site on the Rockaway Peninsula in Queens, N.Y., into a master-planned community. Committed to sustainability, the firm aims to establish New York City's first carbon net-zero community. The project will feature a 35-acre nature preserve and a community center, enriching the local environment. Out of the planned 1,650 housing units, an impressive 80% will be designated as affordable, ensuring accessibility for a diverse range of residents.
Resorts World New York City, the sole casino destination in NYC, has unveiled an ambitious $5 billion expansion plan. This project aims to enhance its Queens location with a sprawling 350,000-square-foot casino floor, 1,600 new hotel rooms, and a state-of-the-art 7,000-seat entertainment venue. As New York state's largest taxpayer, RWNYC projects that this development will not only generate hundreds of millions in additional tax revenue but also create thousands of permanent union jobs, alongside 5,000 union construction positions during the building phase. This expansion is set to significantly boost the local economy and elevate the entertainment offerings in the region.
Project Renewal and Monadnock Development have kicked off construction on the New Providence redevelopment in Midtown Manhattan, transforming the site into a modern 21-story facility that will blend shelter and supportive housing. Spanning 133,000 square feet, this new building will replace a seven-story shelter Project Renewal has managed since 1998. The redevelopment aims to enhance support for vulnerable populations by providing emergency shelter beds, dedicated supportive housing, and a primary care clinic that will serve both residents and the surrounding community, fostering a holistic approach to housing and health services.
