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New mixed-use, mixed-income homes coming to LIC

Rendering courtesy of Domain Companies

Oct. 31, 2023 By Ethan Marshall

A new mixed-use, mixed-income multifamily project is currently in the works in Long Island City. Referred to as the Jasper Project, this 13-story building is being worked on along 50th Avenue and 5th Street by Domain Companies, LMXD and the Vorea Group.

The building is expected to have 499 housing units, ranging from studios to as many as three-bedroom units. Approximately 150 of these units will be set aside for those with a 130% area median income. There will be approximately 35,000 square feet of retail, as well as a community space taking up around 3,000 square feet.

According to Domain Companies Co-CEO Matt Schwartz, this is an area in which the company has been eyeing to work on a project for awhile. He said a window opened up after the COVID-19 pandemic for them to acquire the site and begin advancing the development plan.

“We’ve used the size of the site creatively to create a pretty unique project,” Schwartz said. “We utilized several [building] step-backs and courtyards to create a significant amount of green space throughout the project. It also has a very significant amount of street frontage. As much as we were focused on creating a unique product on the residential side, we’re really focused on activating the street scene and the impact it could have on those streets.”

Those who end up taking residence in the building will have access to amenities like multiple outdoor terraces, a pool, a gym, a yoga studio, bike storage, multiple landscaped courtyards, a game room, package lockers, personal storage, dedicated outdoor dining and BBQ areas, a residential lounge and dedicated co-working space and green roofs. There will also be 112 parking spaces.

“I think we really saw an opportunity here to elevate design and cater to a pretty diverse mix of household sizes,” Schwartz said. “The neighborhood has changed over the [last 15-20] years. There’s certainly more families living in the neighborhood now. We’re really looking to offer a unit and amenity program that caters to the diversity of household composition.”

Schwartz estimates that approximately 30% of the 499 units will be for affordable housing. He is also optimistic about the project’s architecture having a positive impact on the community by celebrating the diversity of the community through its art and manufacture.

“In all of our projects, we’re very hyper-vocal and focused in terms of the art and the manufacturers that we work with, including furniture, fixtures and lighting throughout the building,” Schwartz said. “This project has been a lot of fun to work on, from my perspective, given the diversity and depth of artists and manufacturers already existing in the Long Island City community. We’ve been able to leverage and incorporate that throughout the entire project. We have a lot of space and availability to do that.”

The site of this project had previously been occupied by a warehouse and brownfield. The Jasper Project is expected to be completed some time in Fall 2024 or Winter 2025.

Founded in 2004, Domain Companies has a presence across all five boroughs of New York City, as well as areas outside of New York. Its main focus is on community development, working on projects that help mixed-use and mixed-income families.

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