4,000-Unit Greenpoint Project Poised to Break Ground?

The Observer has intriguing news about a massive Greenpoint development that’s been in the works for years: According to a source, construction is likely to begin next year on the first of 10 buildings planned for the waterfront. The project is supposed to result in 4,000 units of housing all told. The developer is the Park Tower Group, which amassed 20 acres of land next to the Newtown Creek almost a decade ago. A source involved with the project tells The Observer that “the market is finally there for us,” though the developer is now planning to build rentals rather than condos.
Greenpoint Colossus: Massive 10-Tower Complex Could Rise Next Year [NYO]