City officials say the plan will produce billions of dollars' worth of economic activity in the coming decades
Photo: Pro-Zak, CC BY 2.0, via Wikimedia Commons
A new housing development on the former Flushing Airport site in Queens marks the first time in decades that union pension funds will be used to finance middle-income housing on New York City land, reviving a model that once supported the city’s labor-built residential communities.
New York City officials announced plans this week to build approximately 3,000 residential units on the 60-acre site, which is owned by the New York City Economic Development Corporation (NYC EDC). The area previously operated as an airport from 1929 to 1984 and has remained undeveloped since its closure. The project includes a range of housing types, from deeply affordable to market-rate, with a stated focus on middle-income residents.
The development will be led by Cirrus Workforce Housing and LCOR Incorporated, two New York-based firms selected through a request for proposals issued by the NYC EDC in 2023.
According to city officials, the plan is projected to generate $3.2 billion in economic activity over the next 30 years. It is expected to create over 1,300 construction jobs and 530 permanent jobs.
“For too many decades, this valuable land has sat vacant, but our administration said it was time to change that,” said Mayor Eric Adams. He noted that the project follows an executive order aimed at building housing on city-owned sites.
In addition to residential development, the plan includes preserving wetlands on the property and creating landscaped open spaces. NYC EDC CEO Andrew Kimball stated that the wetlands will remain in place, describing them as a natural means of managing flooding and supporting biodiversity.
“The redevelopment of the former Flushing Airport is finally ready for take-off,” Kimball said, adding that the site will include workforce housing, public green areas, and other community spaces.
To address traffic concerns, the NYC EDC and the Department of Transportation completed a 0.7-mile extension of 132nd Street. Officials said this is intended to handle traffic volume associated with the development.
Cirrus Managing principal Joseph McDonnell said the project represents a return to direct investment by union pension funds in housing built by union labor.
“We are advancing generational projects to deliver the housing New Yorkers need and fighting every day to make our city more affordable and the best place to raise a family,” said McDonnell.
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