October 1, 2025
Key Highlights:
- 14,700 new homes (with 4,300 permanently affordable) set to reshape LIC’s residential and commercial demand.
- Over 3.7 million sq. ft. of commercial and community facility space, fueling more than 14,400 new jobs.
- A continuous, resilient waterfront from Gantry Plaza to Queensbridge Park, unlocking untapped commercial potential.
At NYCCREA, we’ve had a front-row seat to Long Island City’s evolution—from its industrial roots to its transformation into one of New York’s most dynamic hubs for business, culture, and residential living. Now, with the draft OneLIC Neighborhood Plan, we see a once-in-a-generation opportunity that could redefine how commercial real estate (CRE) thrives in LIC.
This isn’t just a rezoning initiative—it’s a comprehensive roadmap to make LIC more affordable, resilient, connected, and economically diverse. And as brokers who guide businesses and investors through this market, we can tell you: the ripple effects will be profound.
The OneLIC Neighborhood Plan at a Glance
The OneLIC Plan addresses long-standing challenges in LIC: restrictive zoning, lack of affordable housing, infrastructure gaps, and an underutilized waterfront. By modernizing zoning rules and investing in public amenities, the plan is expected to:
- Unlock 14,700 new homes (including 4,300 income-restricted affordable units) through updated zoning and Mandatory Inclusionary Housing (MIH).
- Generate 3.7 million+ sq. ft. of new commercial and community space, supporting 14,400 jobs.
- Deliver a continuous waterfront corridor with open access, resiliency upgrades, and new public spaces.
- Strengthen LIC’s diverse economy—supporting small businesses, manufacturers, and the creative community.
For us in CRE, that means more retail demand, stronger office and community leasing, and a richer pipeline of investment opportunities.
Timeline of the OneLIC Plan
- October 2023 – Planning process launched at Queensbridge Park.
- June 2024 – Draft zoning proposal and strategies released.
- Jan–March 2025 – Public Sites Community Survey underway.
- Mid–2025 onward – Public review by community boards, City Planning Commission, and elected officials.
If approved, this multi-year redevelopment framework could start reshaping LIC as early as late 2025.
The Goals and Their CRE Impact
The plan is guided by five community-generated goals. Each one has direct implications for commercial real estate investors, developers, and business operators.
1. Creating More Housing Across Income Levels
- Impact on CRE: With thousands of new homes, including affordable units, demand for retail, services, and local businesses will surge. More residents mean more restaurants, gyms, daycare centers, and professional services will need space.
- Ongoing Initiative: A 320-unit fully affordable building at 44-59 45th Avenue is already in planning, signaling momentum.
2. Building a Connected, Resilient, and Accessible Waterfront
- Impact on CRE: A continuous public waterfront from Gantry Plaza to Queensbridge Park will not just be recreational—it will drive hospitality, tourism, and retail demand. Think cafés, galleries, cultural venues, and fitness concepts anchoring prime locations.
- Ongoing Initiative: Post-Hurricane Sandy resiliency standards have been adopted to make LIC’s waterfront commercial properties safer, more insurable, and attractive to investors.
3. Meeting Infrastructure & Climate Needs
- Impact on CRE: Investment in parks, stormwater systems, and public cooling features translates into higher land values and stronger tenant retention for nearby offices and retail.
- Examples: Upgrades at Queensbridge Park ($12M), Court Square Park, and Murray Playground’s Parkhouse—all magnets for foot traffic and community activity.
4. Supporting LIC’s Thriving Economy
- Impact on CRE: By rezoning for higher-density mixed-use and industrial flexibility, LIC will continue to be a hub for manufacturing, creative industries, and small businesses. This increases demand for flex office, light-industrial, and maker spaces.
- Ongoing Initiatives: NYC’s Industrial Plan and NYC Create in Place program will keep LIC’s creative ecosystem competitive, benefiting landlords and investors in adaptive reuse properties.
5. Expanding Access to Resources and Amenities
- Impact on CRE: Improved street connectivity, transit upgrades, and bike infrastructure make LIC more attractive to both tenants and investors.
- Ongoing Initiatives: The Queens Bus Redesign and MTA accessibility upgrades will expand catchment areas for businesses, strengthening retail corridors like Vernon Blvd and Court Square.
Prosperous Long Island Future
From our vantage point as brokers, the OneLIC Plan is a catalyst for sustainable CRE growth. With nearly 15,000 new housing units, a surge in commercial square footage, and tens of thousands of new residents and jobs, LIC is poised to become a balanced live-work-play community.
The key for investors and businesses? Timing. Early movers who secure properties before rezoning momentum drives up prices will benefit the most. We forecast that retail and mixed-use assets near the waterfront and transit corridors will see the fastest appreciation.
Simply put: Long Island City is no longer just an alternative to Manhattan. With OneLIC, it’s shaping up to be a flagship model of New York City’s next wave of inclusive, resilient urban development.
For the latest news, proven strategies, and exclusive opportunities in commercial real estate in New York City and Western Nassau County NY, visit us at www.nyccrea.com
Reference:
The OneLIC Neighborhood Plan, New York City Department of City Planning
