Flushing Commons Breaks Ground
Local elected officials and community stakeholders joined together today with the developers of the highly anticipated Flushing Commons project to officially break ground on a development that is set to transform downtown Flushing. The $1 billion development will include a dynamic mix of residential housing, commercial and retail space, as well as community facilities and a 1,600 space public parking facility. The privately financed project is located at the site of the former Municipal parking lot.
Flushing Commons is expected to generate 2,600 union construction jobs and 1,900 permanent jobs. Phase 1 is comprised of approximately 219,000 square feet of office and retail space, 150 units of housing and a 982 space parking garage. In response to community input, and as a central component of the phasing plan, 1,144 parking spaces will be maintained on-site at Flushing Commons throughout construction. Phase 1 is expected to be completed by 2017.
Flushing Commons, LLC is a partnership of F&T Group, The Rockefeller Group and AECOM Capital, along with financial partner Mount Kellett Capital Management LP. Financing is provided by Starwood Property Trust. Construction is being managed by Tishman Construction, an AECOM company.
Keep up to date with the project at: http://www.flushingcommonsupdates.com