Development projects thrive on paper only (Times Ledger)

In February, the mayor’s office took a step forward in the Hunters Point South project, which the city hopes will eventually bring thousands of affordable housing units to a brand new, 30-acre, mixed-use development project on the Queens waterfront.

Phipps Houses, Related Cos. and Monadnock Construction have been selected to complete the first phase of the project, according to the city Economic Development Corp. Phase I is made up of two mixed-use buildings which will contain more than 900 housing units and roughly 20,000 square feet of retail space. The project is slated for completion in 2014 on its footprint.

http://www.timesledger.com/stories/2011/52/developmentwrapup_all_2011_12_29_q.html