A full-block site just south of Laguardia Airport will soon see a futuristic, high-end hotel and residential development take shape.
New York-based developer and asset management firm Fleet Financial Group announced this week that they have received the go-ahead from the NYC Board of Standards and Appeals (BSA) to begin work on their Corona, Queens project known as Eastern Emerald.
Back in 2013, Fleet planned to use the site for a new $200 million, 25-story convention center. That project was later swapped out in 2019 for a more squat but shapely hotel building of just 12 stories.
The latest rendition seen here reverts back to the original height of 25 stories (372 feet) and shows a tall glass tower hugged by two sinuous protrustions. The new design boasts 350,200 square feet of space with the residential component (condos or rentals, TBD) accounting for approximately 175,000 square feet on the top floors, and the hotel making up the difference. The tower will also feature an open-air atrium extending from its third floor to the roof, a ballroom, an auditorium, meeting rooms, multiple terraces, a double-height rooftop deck and bar, and an outdoor pool.
The design comes from London-based SASI Studio with Fleet Architects, PC as the architect of record.
According to Real Estate Weekly, Fleet Financial also received a Certificate of Completion from the NYSDEC Brownfield Cleanup Program for its full remediation of the site. For nearly a century, the site has seen heavy use by the auto industry and has served as a Ford dealership, automobile service repair facility, and a gas station. As a result of these activities, the soil and groundwater was severely contaminated.
“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,” said Richard Xia, President of Fleet Financial Group in a statement. “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.”
Located at 112-51 Northern Boulevard, Eastern Emerald will benefit from its proximity to Citi Field, USTA Billie Jean King National Tennis Center, Flushing Bay Promenade, public transit, highways, and LaGuardia Airport, which will soon see the start of construction on a dedicated AirTrain .
Eastern Emerald is slated for completion in 2024.