Page 17 - 2021 Queens Economic Development Guide

• Silverstein Properties, best known for rebuilding lower Manhattan following the 9/11 terrorist attacks; and
• BedRock Real Estate Partners, whose principals have a decades- long record of sustainable community investment, often navigating complex public- private partnerships in thoughtful and creative ways, and whose investors are committed over the long term to the communities in which they are active.
“I am proud that Kaufman Astoria Studios has acted as an economic driver – rejuvenating our immediate neighborhood through smart, thought-out development – and look forward to continuing what
we started,” said Hal Rosenbluth, president and CEO of Kaufman Astoria Studios. “Working together with our partners and our community, which is filled with vibrant cultural institutions, fast growing creative industries, and diverse, hard working neighbors, we can continue to mature, assuring the sustainability of what has been created.”
A Major Driver of Economic Opportunity
Through partnerships with Astoria-based civic organizations, and extensive participation in the project’s planning, construction and implementation by neighborhood residents, local businesses and cultural institutions, the initiative is expected to:
• Create more than 5,400 on-site jobs – including some 3,700 during construction and more than 1,700 permanent jobs;
• Support businesses in the community by generating $50 million in new local spending annually;
• Make a portion of its space available to startups, artists/ makers and community-based
non-profit organizations at below-
market rents;
• Offer educational programming
for Astoria residents of all ages, including job training, STEM education and lifetime learning programs; and
• Contribute to critical investments in public infrastructure through $119 million in new tax revenue during construction and $18 million in new tax revenue annually during its operation.
Maximizing Opportunity for MWBEs
To maximize the participation of neighborhood residents and minority-, women- and locally owned businesses in hiring and procurement, the development team has retained Inside Track, an accomplished firm with a long record of delivering meaningful opportunities that foster equity and inclusion in projects of every scale.
Meeting the Moment
Larry Silverstein, chairman and founder of Silverstein Properties, said: “This is a time when people desperately need jobs, and this project will serve as an enormously important stimulus for Astoria and New York City. Astoria embodies the audacity and determination that has defined our city time and again. We will meet this moment with resolve, ambition and ingenuity, and emerge stronger than ever – just as we have always done.”
“The havoc created by COVID-19 hit Queens harder than any community in the nation,” said Tom Grech, president of the Queens Chamber of Commerce. “As we look to rebound, the partnership behind Innovation QNS is well positioned to contribute meaningfully to our recovery,
as its partners have led historic revitalization initiatives before, including here in Astoria.”
“Astoria is known throughout the
world as a community that nourishes creativity and culture, especially related to film and media production, and educational programs related to the media arts,” said Carl Goodman, executive director of the Museum of the Moving Image. “Both MoMI and Kaufman Astoria Studios have been a driving force behind the community- informed evolution of Astoria. We are excited to see an initiative led by our neighbors that will affirm Astoria’s identity and create opportunities for New Yorkers.”
“This is exactly the kind of bold thinking and neighborhood-
focused investment that is needed
to jumpstart Astoria’s recovery,
and we look forward to working collaboratively with our neighbors
to build on the community’s many strengths in creating a vibrant, walkable, interconnected 21st century district in the heart of Queens,” said Chuck Berman, co-founder and managing principal of BedRock Real Estate Partners.
Learn more at www.innovationqns.com
Opposite Page: A rendering of the street view of the Civic Park at Innovation QNS.
Above: Street View, 35th Ave.
www.queenschamber.org 15
© Courtesy of Innovation QNS