New York City last week began a seven-month land review process for a proposed 5,000 unit rental housing development at a waterfront site called Hunter’s Point South in Long Island City in the borough of Queens.

The announcement made official the role of the Real Estate Board of New York, a trade association that lobbies on behalf of the real estate industry, as an adviser to the project that could involve the possible creation of a 501(c)(3) nonprofit corporation to issue tax-exempt bonds for financing.

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.