Jasper Wu is trying to construct greater in Astoria, submitting plans for a brand new growth a number of blocks from the failed Innovation QNS megaproject.
Wu’s ZD Jasper Realty needs to rezone a 48,000-square-foot growth website at 34-49 Steinway Road from industrial to mixed-use, in response to an software filed with town Planning Division. The rezoning would clear the way in which for a 17-story, 214-unit constructing with a few quarter of the items designated as reasonably priced beneath town’s Obligatory Inclusionary Housing.
Wu’s proposed 171,000-square-foot constructing would come with 21,000 sq. toes of retail area and about 5,000 sq. toes of neighborhood area, in response to the applying, which was first reported by PincusCo.
The developer’s web site refers back to the undertaking as a rental, which might seemingly be break up into a number of buildings with 99 items or fewer to dodge building wage necessities imposed by 485x.
Wu didn’t instantly reply to a request for remark.
ZD Jasper purchased the property in 2024 for $16.6 million from Robert Gans. The proposed rezoning sits within the shadow of Innovation QNS, a five-site, 3,200-unit undertaking proposed by Silverstein Properties, BedRock Actual Property Companions and Kaufman Astoria Studios.
However the crew of builders broke up after the November 2022 rezoning was accredited by the Metropolis Council, and the location will now yield quite a lot of smaller developments as a substitute.
The undertaking is certainly one of a number of ZD Jasper developments taking form throughout the borough.
The developer filed plans for a 99-unit undertaking at 35-25 Steinway Road, a few block south of the proposed rezoning. The agency can be nearing completion of a 182-unit apartment undertaking at a former paint manufacturing facility at 45-40 Vernon Boulevard in Long Island City.
ZD Jasper was additionally the primary New York Metropolis developer to make the most of new state environmental-review exemptions, permitting a proposed 143-unit project in Sunnyside to maneuver ahead with out additional SEQRA review. Throughout the river, a branded apartment undertaking on the Higher East Aspect is aiming for completion by summer time of 2027.
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