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Construction

Construction Loan for 26-story Residential Building at 41-08 Crescent Street

2024-12-12

A $70 million construction loan has been granted for 41-08 Crescent Street, a remarkable 26-story residential structure currently under construction in Long Island City, Queens. This project, designed by Dan Ionescu Architects and developed by Watermark Capital Group, is set to become a significant addition to the local skyline. With a total area of 192,000 square feet, it will house 184 units ranging from studios to three-bedroom layouts. An impressive 70 percent of the inventory is dedicated to affordable housing under the Affordable NY 421a program, ensuring that a significant portion of the units will be accessible to those in need. Additionally, there will be 9,000 square feet of ground-floor retail space and a 41-vehicle parking lot, providing convenience and amenities for both residents and visitors.

Key Features and Benefits

The Building's Design

The main rendering of the building showcases its unique architecture. It rises from a U-shaped podium made of gray brick and adorned with floor-to-ceiling windows. After a setback, the main tower along 41st Avenue features an even rectangular massing with floor-to-ceiling windows and light-colored paneling. Balconies lined with glass and dark metal railings protrude from the northern and eastern faces, adding a touch of elegance. Two mechanical bulkheads sit atop the flat roof parapet, completing the overall aesthetic.This design not only enhances the visual appeal of the building but also maximizes natural light and ventilation, creating a comfortable living environment for the residents. The use of gray brick and light-colored paneling gives the building a modern and sophisticated look, while the floor-to-ceiling windows provide stunning views of the surrounding area.

Location and Accessibility

Located near the East River waterfront, 41-08 Crescent Street offers excellent connectivity. Residents can easily access Manhattan via the 7, N, and W subway lines at the Queensboro Plaza station and the E, M, and R trains at the Queens Plaza station. This makes commuting to the city a breeze and allows residents to enjoy the best of both worlds - the tranquility of Long Island City and the excitement of Manhattan.In addition, the building is within walking distance of Queensbridge Park, providing residents with a beautiful green space to relax and enjoy. Whether it's taking a stroll in the park or having a picnic with family and friends, residents will have access to nature right at their doorstep.

Affordable Housing and Community Impact

The commitment to providing 70 percent affordable housing under the Affordable NY 421a program is a significant aspect of this project. By making housing more accessible to a wider range of people, it helps to create a more inclusive and diverse community. This not only benefits the residents but also has a positive impact on the local economy and society as a whole.The development is replacing a former surface-level parking lot, which helps to optimize the use of land and reduce urban sprawl. By building a multi-purpose residential and retail complex, it adds value to the area and contributes to the growth and development of Long Island City.The Slate Property Group and White Oak Real Estate Capital's decision to provide the loan for the final stages of construction and lease-up is a testament to their confidence in the project. With their expertise and financial support, the project is on track to become a success and provide much-needed housing in Northwest Queens.

Little River Academy in Texas is making significant strides with the construction of a new field. This initiative aims to enhance opportunities for kids in Central Texas and bring a new level of excitement to local sports. Chance Bacon, the director of Centex Little League, has been at the forefront of these improvements. After achieving three consecutive world series appearances and becoming well-known across the region, he recognized the need to expand and upgrade their facilities.

Unlock Opportunities with the New Little River Academy Field

Improving the Playing Fields

In 2022, Bacon initiated much-needed improvements to the existing fields. He took down the old fencing and has been gradually renovating one field at a time. This dedication to providing the best playing surfaces for the kids in the area is truly remarkable. The new challenger field, specifically designed for children with disabilities, is a game-changer. Last year, there were 12 kids signed up in the challenger division, but they had to be sent elsewhere due to lack of facilities. Now, with this new field, more kids will have the chance to participate and thrive.

Not only are the fields being updated, but also the surrounding infrastructure. Bacon emphasized the need to update the parking area. When kids are getting out of vans, buses, or using wheelchairs, there are currently no accessible paths or sidewalks. Additionally, the bathrooms need to be made wheelchair accessible to ensure everyone can enjoy the facilities. These improvements are crucial for creating a truly inclusive environment.

The Impact on Players

Current and former players have expressed their excitement about these changes. Journee White, who was on the 22-23 senior softball league and grew up in Academy, has been coming to these fields since she was four. Her sister also played little league here, and she is thrilled to see the improvements. Braelynn Hendricks, a part of the 2024 junior softball league with a few more years left in the league, is super excited and ready to start playing on the new fields. These players understand the value of having quality facilities and are eager to make the most of them.

The construction of the new field is not just about providing a place to play; it's about creating memories and opportunities. For these kids, little league is more than just a sport; it's a part of their lives. With the new field, they will have the chance to grow, develop their skills, and make lifelong friendships.

Fundraising and Community Support

According to Bacon, the total cost of this project is approximately $200,000. While Texas Stone is providing significant assistance, they still need the support of the community to cover the remaining expenses. George Barrientos from Texas Stone emphasized the importance of everyone coming together to help. By making a donation on their website or sponsoring them, individuals can contribute to making this dream a reality.

There is a great deal of opportunity in the Waco area for little league, but in this specific area, such facilities are lacking. Bacon's passion is to bring this opportunity to the residents here, as they deserve it. With the help of the community, they hope to have the field completed and ready for the spring 2025 season.

If you would like to support the Little River Academy Little League, you can make a donation on their website or become a sponsor. Let's come together and help these kids achieve their dreams on the new field.

The Baileys Trail System is on the verge of reaching its near-completion milestone within the next year. This significant development is set to bring a plethora of outdoor recreational opportunities to the region. According to a press release from the Outdoor Recreation Council of Appalachia, new trails are being developed, including those near Buchtel.

Unlock the Potential of the Baileys Trail System

Trail Development in Buchtel

Buchtel Village Council member Jay Kline, who also serves on the ORCA board, emphasizes the growth and importance of what Buchtel has to offer. The development of the Baileys trails in and around Buchtel is seen as a game-changer. It not only enhances outdoor recreation but also holds the potential to boost economic development in the village. Kline calls the upcoming development of the Buchtel–Snowfork Trailhead the “biggest thing to happen in Buchtel since the discovery of coal.” This trailhead is slated for development in 2025 and will connect the Baileys to new areas, opening up a world of possibilities for outdoor enthusiasts and local businesses alike.

With the addition of 25-29 miles of new trails, the Baileys will expand to 83–87 miles, nearly reaching the 88 miles ORCA has promised. The construction began in November and is progressing steadily. While the total mileage to be added is uncertain due to the variability of conditions along the routes, the excitement among stakeholders is palpable.

Connecting to the Future

The new trails will not only enhance the existing Baileys Trail System but also connect it to the site of the future Buchtel–Snowfork Trailhead. This connection is crucial as it provides a seamless experience for trail users and paves the way for further growth and development. ORCA Director Jessie Powers is ecstatic about the progress, stating that the larger group of stakeholders started planning this project in 2016 and is now nearing completion in less than a decade. Securing millions of dollars for a recreation asset of this scale is no small feat, especially in Ohio where such projects are not commonly undertaken.

The dynamic nature of trail construction in the Wayne National Forest, which was once “basically an area stripped to the bedrock” by extraction, adds an extra layer of challenge. However, the team is committed to ensuring long-term trail sustainability by properly compacting the trail surface during dry conditions. This attention to detail will ensure that the trails remain in excellent condition for years to come.

Expanding Trails in Multiple Locations

In addition to the trails near Buchtel and north of State Route 685, other trails are planned in various locations. Trails near the Doanville trailhead, off of Utah Ridge and Coal Run Road, and near Big Bailey Run Road are all part of the expansion plan. This widespread development will make the Baileys Trail System more accessible and attractive to a wider range of users.

Whether you are a local resident looking for a new outdoor adventure or a tourist seeking to explore the beauty of Appalachia, the Baileys Trail System has something to offer. With its near-completion and the promise of continued growth, it is set to become a major attraction in the region.