June 10, 2019 by Miriam Hall

Queens Has Boomed As A Home For Immigrants, And Development Has Followed. What Happens Next?

Photo: Unsplash

The opening of Tiger Sugar, a Taiwanese bubble tea chain's first North American location in Flushing, is just one example of how Queens has become a vibrant hub for international communities. The street scene features international foods and diverse immigrant populations, located just subway stops from Manhattan's Grand Central Terminal.

Queens is among the most diverse places in the world, with no single racial or ethnic group dominating. The borough houses half of New York's Asian Americans plus substantial Bangladeshi, Filipino, Indian, Korean, and Caribbean populations. Population growth reached 2.4 million by 2017—a 25% increase since 1980.

Development has followed this demographic transformation. In Flushing's Downtown area, projects like Tangram feature 324 luxury condos, a 24K SF food hall, office tower, 7-screen theater, and Renaissance Hotel. The Shops at Skyview, a 560K SF retail complex, received a $400M investment from Blackstone Group.

Jamaica is also experiencing significant development, including the Crossing at Jamaica Station with 669 affordable units near Jamaica Terminal. BRP Cos. is planning 2,000 units across multiple sites in five years, including the 522-unit Anchor Green Apartments.

Average buildable square footage reached $228/SF in Q1 2019, up 8% from 2018. Development sales reached $160M in Q1, though representing fewer total transactions—suggesting larger deals and price appreciation.

F&T Executive VP Helen Lee says her company is inspired by "glamorous 24-hour cities like Hong Kong, Shanghai and Tokyo," seeking to create cosmopolitan development "authentic to the area."

BRP Managing Partner Meredith Marshall emphasizes community engagement and demonstrating data to locals, noting "displacement" concerns were absent with neighborhood support.

Slate Property Group's David Schwartz observes Queens hasn't changed since the 1960s-70s, comparing areas like Astoria to "East Williamsburg did 15 years ago."

However, community concerns persist. Local residents worry that construction has failed to create neighborhood employment opportunities. Musician Mackenzie Shivers emphasized concerns about rising costs threatening "true New York" diversity and the neighborhood's "middle-class living" character.

Infrastructure challenges remain significant. Critics note the already-burdened 7 train cannot accommodate significant population increases from developments like Sunnyside Yards.

Designated Opportunity Zones cover parts of Jamaica, Long Island City, Jackson Heights, and Far Rockaway. While viewed positively by investors, the program has "raised questions about the best way the program could improve communities."

Over 40% of New York households are rent-burdened. Homelessness reaches highest rates since the 1930s with nearly 62,000 people in shelter systems. Development is positioned as a necessary response, though anti-development sentiment is "at an all-time high."