When Amazon announced it chose Long Island City as one of its two, new HQ2 locations, New York officials emphasized the new construction projects and infrastructure improvements that will come with Jeff Bezos’ multi-billion dollar company. According to the press release from NYC mayor Bill de Blasio’s office, the pending projects include:
- Four million square feet of commercial space on Long Island City’s waterfront over the next 10 years, with expansion opportunities for up to eight million square feet over the next 15 years.
- A 10,000 square-foot on site employment center
- A new approximately 600-seat intermediate public school
- A 3.5-acre waterfront esplanade and park
The construction is expected to create an average of 1300 direct construction jobs annually through 2033, according to city officials. Read the complete press release here.
According to Curbed New York, to fund local infrastructure—streets, sidewalks, open space, etc.—Amazon will utilize the city’s PILOT (payment in lieu of taxes) program, estimated to be $600 to $650 million over four decades. The details of how those funds will be allocated will be decided upon via community engagement, the ny.curbed.com article said.