Queens Luxury Mixed-Use Project Receives BSA Approval
Fleet Financial Group has received approval for its 350,178-SF, hotel and residential development, Eastern Emerald, which is expected to be complete in 2024.
NEW YORK CITY – The New York-based, development and asset management company, Fleet Financial Group has received approval from the New York City Board of Standards and Appeals for a new 350,178-square-foot, mixed-use development in Corona, Queens.
The new high-end hotel, residential and retail development, Eastern Emerald, will span 25 floors and will encompass a full city block. The property will consist of 175,000 square feet of residential space on the upper levels, and 145,900 square feet of hospitality space.
The project will feature an expansive open-air atrium at the center of the building, as well as a double-height rooftop deck and bar. The hotel will offer spaces and amenities including a ballroom, an auditorium, meeting rooms, terraces and an outdoor pool.
The project’s architect, Fleet Architects PC is working alongside London-based, SASI Studio to design the property’s façade, atrium, terraces and other public spaces.
The project is scheduled to be complete in 2024.
Located at 112-51 Northern Blvd., the property offers more than 315 feet of frontage along Northern Blvd., 485 feet of frontage along Astoria Blvd. and 370 feet of frontage on 112th Place. The site is situated near LaGuardia Airport, Citi Field, Corona Park and Flushing Bay Promenade.
In addition to receiving approval from the BSA, Fleet Financial Group received a certificate of completion from the NYSDEC Brownfield Cleanup Program for the full remediation of the site.
Since the early 1930’s, the site has served as an automobile service repair facility and gas station. Due to its history and severe soil and groundwater contamination, the site required extensive cleanup and remediation operations. The site has now achieved Track-1 remedial certification, which allows for unrestricted future use.
“Our extensive remediation efforts improved the air and water quality at and around the site, thereby enhancing the public health and vitality of the surrounding community,” states Richard Xia, president of Fleet Financial Group. “The development will also allow for an influx of capital into the area and create a significant number of jobs, further revitalizing the Elmhurst and Corona neighborhoods following the catastrophic effects of the recent pandemic.”