A new mixed-use development adjacent to Manhattan will provide up to 5,000 new housing units for New York City, with tax-exempt bonds helping to finance the first phase of the project.

Construction for road, sewer, water, and power upgrades began last month on the 30-acre development, called Hunters Point South, and officials anticipate the initial phase of the project will be finished in 2014.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.