THE REJUVENATION LONG ISLAND CITY

In 2000, Michael Bailkin and Paul Travis of the Arete Group tried to buy two large sites, including a large city-owned garage, at the junction of Queens Plaza and Jackson Avenue. They also bought the air rights to part of Sunnyside Yards.

These moves prompted the Department of City Planning to devise the Queens Plaza Special District (approved in 2001), which featured incentive bonuses and urban design guidelines that called for broad setbacks, new parks, and ground-floor retail shops to enliven the street.

The lots that Arete sought have since been sold to Tishman Speyer and were upzoned to Floor Area Ratio (FAR) 12, signaling a dense future for LIC. Tishman plans over 3 million square feet of office and retail space at its Gotham Center development.

In July 2001, the New York City Council approved the rezoning of 37 blocks along Jackson Ave. in Long Island City.

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