The city will transform a long-vacant city-owned site near the Long Island City waterfront into a sprawling mixed-use development that will create almost 1,000 homes across three buildings, two thirds of which will be permanently affordable.
The city’s department of Housing Preservation and Development (HPD) announced Wednesday morning that the 54-42 2nd St. – a 70,000 square foot space known as Parcel E that was once part of the failed bid to host the 2012 Olympic Games – will be transformed into the Orion, a mixed-use development featuring 983 housing units, including 658 permanently affordable units.
