LONG ISLAND CITY — A developer with big plans for Court Square cut the ribbon Monday on the newest luxury apartment tower in the neighborhood, which is poised to become increasingly residential in the coming years.
Rockrose Development Corp. officially opened Linc LIC, a 42-story, 709-unit apartment complex at 43-10 Crescent St., the first of several projects the company has in the works for the area.
The building is approximately 40 percent leased, and is made up of studios, one, two and three-bedroom apartments, with rents for a studio starting at $2,215 and three-bedrooms beginning at $4,755.
Linc LIC boasts a number of luxury amenities, like a bi-level fitness center complete with squash and basketball courts, a children's play room, a movie screening room and a duplex lounge located on the 31st floor, with an outdoor deck and lawn.
The first floor of the building will be retail space, and gourmet grocery store Food Cellar is set to open a new supermarket there in late 2014.
Rockrose has three other residential projects in the works in Court Square, which is transitioning from largely an office workers hub into a hot spot for luxury housing.
Company president Justin Elghanayan said they're planning their next building across the street from Linc LIC at 4325 Hunter St., a 50-story tower with 975 apartment units, to be completed in 2016.
After that, Rockrose plans to develop an 800-unit rental building at 43-22 Queens St., in a former warehouse owned by the Eagle Electric company. Some of the warehouse space will be retained for loft apartments, Elghanayan said, while the rest will be new.
Later plans include a 100-unit building — possibly condos — on a lot on Crescent Street near the recently opened M. Wells Steakhouse, which is also leasing its space in a former garage from Rockrose.
Elghanayan said the company hopes to bring other retailers to the neighborhood, where shopping amenities are still somewhat sparse. The company owns several buildings on Jackson Avenue between 44th Drive and 43rd Avenue which they plan to use for retail, though Elghanayan said he's not sure what specifically will fill the spaces.
"I want the neighborhood to be able to develop organically. We have some retail space, and I want to see what comes to me and see what happens and see who is interested," he said.
He predicts the neighborhood will draw retailers similar to those that are already in the neighborhood.
"I think the vibe of it is going to be a pretty cool, fun neighborhood."