The transformation of Long Island City from industrial wasteland into an office AND industrial wasteland got a shot in the arm this week when the mayor's office and the New York City Economic Development Corporation announced plans to spend up to $75 million in city and federal dollars to "green" up the neighborhood and improve traffic. New trees, benches, and crosswalks will be installed to make the area, known for it's heavy auto traffic between the city and Long Island, safe for pedestrians and more attractive for development.
Rezoned in 2001, L.I.C. soon became the spill-over neighborhood for businesses looking to be near Midtown but not haveing to pay for it. The first to take the city up on their new offer were the strip clubs being kicked out of Times Sq by then Mayor Giuliani. At the height of the building boom it seemed L.I.C. would be the edge city of Bloomberg's dream with new condo and office towers popping up, as well as a plan to completely rebuild Queensboro Plaza with new parks and bike lanes.
It all seemed like a dream come true. Long Island bankers could be closer to home and get a lap dance after work. But the contracting office market has left enough vacancies in Midtown that companies are thinking twice about L.I.C. Even neighborhood heavy weight MetLife, which moved it's upper management into a refurbished airplane factory in 2007 reversed it's decision a year later and brought everyone back into Manhattan.
Last year the city tore down a decrepit parking garage to make way for new development but the market has dropped out. Plans for glass towers have been scaled back, put on hold, or canceled leaving the neighborhood with half empty new buildings, vacant storefronts, and empty lots. Given the trends of Williamsburg, in a similar situation, time will tell if bankers and office workers will be hanging out in these rundown lots to shoot-up on their lunch breaks.
Rezoned in 2001, L.I.C. soon became the spill-over neighborhood for businesses looking to be near Midtown but not haveing to pay for it. The first to take the city up on their new offer were the strip clubs being kicked out of Times Sq by then Mayor Giuliani. At the height of the building boom it seemed L.I.C. would be the edge city of Bloomberg's dream with new condo and office towers popping up, as well as a plan to completely rebuild Queensboro Plaza with new parks and bike lanes.
It all seemed like a dream come true. Long Island bankers could be closer to home and get a lap dance after work. But the contracting office market has left enough vacancies in Midtown that companies are thinking twice about L.I.C. Even neighborhood heavy weight MetLife, which moved it's upper management into a refurbished airplane factory in 2007 reversed it's decision a year later and brought everyone back into Manhattan.
Last year the city tore down a decrepit parking garage to make way for new development but the market has dropped out. Plans for glass towers have been scaled back, put on hold, or canceled leaving the neighborhood with half empty new buildings, vacant storefronts, and empty lots. Given the trends of Williamsburg, in a similar situation, time will tell if bankers and office workers will be hanging out in these rundown lots to shoot-up on their lunch breaks.
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