A Rendering of the Court Square City View Tower // West Hill Architecture

Queens’ Tallest Tower Gets a $500M Loan

The 67-story Long Island City complex with be the tallest residential building in Queens.

By David Brand

Long Island City is getting even taller.

Developer Chris Jiashu Xu received a $502 million loan to build Court Square City View Tower, an 710-foot, 802-unit luxury condo complex at 23-15 44th Drive.

At 67 stories, the skyscraper will become the tallest residential tower in Queens. Though the developer announced Monday that the skyscraper will no longer rise to the proposed 984-foot structure, it remains one of the tallest residential buildings outside of Manhattan.

Before breaking ground, the development team received a $100 million land loan from Bank of China. The project will cost about $700 million overall, but developers will quickly make that money back on sales.

The median price for an apartment in Long Island City is currently between about $880,000 and $1 million, The Wall Street Journal reports

The building was designed by New York City-based architecture firm Hill West Architects. Interior design was completed by Hill West associate Whitehall Interiors. It was initially planned to rise 984 feet, which would have made it Queen’s only “supertall” tower

Last week, Curbed New York mapped all the supertalls in the City — to qualify as a supertall, a building must stand at least 984-feet tall.

When it is completed, the 1,066 feet tower at 9 Dekalb Avenue will become the only supertall in Brooklyn. The other 21, including the 1,776-foot tall One World Trade Center and the slender, 1,428-foot tall 111 W 57th Street, are located in Manhattan.

Since 2010, Long Island City has had the biggest construction boom in the entire country according to a 2017 report by the trade site RENTcafe. Last year, New York Magazine dubbed LIC the “country’s fastest growing neighborhood.”

Unlike other New York neighborhoods, like Williamsburg and East Harlem, that have experienced massive disruptions over the past decade, local advocates say the Long Island City boom does not come at the expense of long-time residents. Because the region was primarily industrial, relatively few residents have been displaced by the wave of unprecedented gentrification.

“It was an industrial neighborhood with very few residents,” says architecture critic and community activist Nina Rappaport. “Long Island City had a population of like 15,000.”

In addition to residential development, Long Island City is poised for further investment in its growing tech sector.

Earlier this month, Queens Borough President Melinda Katz unveiled the Western Queens Tech Zone Strategic Plan, a roadmap to make the Long Island City region the City’s “next leading tech ecosystem.”

“Western Queens offers a coveted, dynamic mixed-use community where workers can live, ideas can synergize, and businesses can thrive,” Katz said. “We commissioned the Tech Plan to facilitate a more equitable growth of this emerging global innovation hub.”

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