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QUEENS, NY-Muss Development LLC has selected Onex Real Estate as its partner for the development of the $1-billion, 3.3-million-sf Flushing Town Center, located at College Point Boulevard and Roosevelt Avenue in Flushing. The project sits on 14 acres and will include approximately 800,000 sf of retail, a 2,500-space parking garage, 1,100 condominium units and a 40-ft-wide waterfront esplanade along the Flushing River.

The retail portion of Flushing Town Center will consist of a three-level retail mall, above which will be the residential community. Six residential towers on a 3.5-acre park will be constructed on the retail rooftop. The residential units will be composed of studio, one-, two-, and three-bedroom unites. The condominiums will be available beginning summer of 2009.

“The development is expected to provide a major economic boost to the area by turning under utilized land into one of the most valuable assets in the borough of Queens,” says Joshua Muss, president of Muss development.

Flushing Town Center is expected to generate 5,000 construction jobs and more than 2,000 permanent jobs, as well as approximately $28.5 million in annual tax revenues to the city and state.

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