Major Rezoning Plan Unveiled for Long Island City: What the OneLIC Neighborhood Plan Means for Real Estate
New York City is making bold moves once again in reshaping its urban landscape. Mayor Eric Adams and the Department of City Planning (DCP) have officially launched the public review process for the OneLIC Neighborhood Plan, a transformative rezoning proposal aimed at Long Island City, Queens.
After nearly two years of comprehensive community engagement, this initiative stands as the most ambitious housing and development plan from City Hall in over 20 years. It seeks to bring 14,700 new homes to the area including 4,000 income-restricted units while introducing 3.5 million square feet of new commercial and industrial space. Altogether, OneLIC is expected to create approximately 14,400 jobs, offering significant opportunities for both residents and businesses.
Key Details of the OneLIC Plan
Location: Spanning from the East River to Crescent Street and Queens Plaza North to 47th Avenue, with an extra stretch to 39th Avenue between 21st and 23rd Streets.
Housing Impact: 14,700 new residential units, including 4,000 income-restricted homes through Mandatory Inclusionary Housing (MIH), a first for this neighborhood.
Affordable Housing Sites: City-owned parcels like 44-59 45th Avenue will provide deeply affordable options, including a planned 320-unit development.
Commercial Growth: 3.5 million square feet of commercial and light industrial space to foster job growth and economic diversity.
Community and Waterfront Enhancements
In addition to housing and commercial growth, the plan includes:
Waterfront Access Improvements: Updates to the Waterfront Access Plan will better connect Gantry Plaza State Park to Queensbridge Park, encouraging public access and enhancing open space along the East River.
Street-Level Activation: Zoning updates will promote vibrant, pedestrian-friendly streets with active storefronts and green infrastructure.
Redevelopment Potential: The NYC Economic Development Corporation is evaluating community-oriented options for properties like 44-36 Vernon Boulevard.
What This Means for Investors and Residents
For real estate professionals and prospective investors, the OneLIC Plan represents a once-in-a-generation opportunity to be part of a neighborhood undergoing major transformation. With rezoning unlocking new development potential, Long Island City is poised to become even more dynamic, balancing housing needs, job creation, and community vibrancy.
Whether you're looking to invest in residential properties, develop mixed-use spaces, or simply stay ahead of market trends, now is the time to keep an eye on Long Island City.
Interested in buying, selling, or developing in LIC? Contact our team today to learn how these changes could impact your real estate strategy.