Tall & Urban News

Amazon has officially revealed its plan to develop a headquarters location along the East River banks of Long Island City, in New York City’s Queens borough. The “HQ2” corporate complex will span multiple lots and structures on Vernon Boulevard, from 44th Road, all the way to 46th Avenue. 
 
The development arrives as a joint venture between several state agencies and private entities. Government agencies include Empire State Development, the NYC Economic Development Corporation, and the City of New York. TF Cornerstone was selected as the designee of the City’s original RFP for the site, and will work closely with all partners to oversee and complete the new development. 
 
The new headquarters will initially occupy approximately 4 million square feet (371,612 square meters) of commercial space, and promises the creation of 25,000 jobs within 10 years. The company’s total footprint will eventually occupy 6 to 8 million square feet (557,418 to 743,224 square meters) of commercial area. Within 15 years, the company is expected to create up to 40,000 new jobs. 
 
The average wage for the employee population will exceed $150,000 per year. 
 
In addition to offices, the site will include affordable manufacturing and industrial space, dance studios and cultural space featuring programming by the Joyce Theater, and community development centers. 
 
Amazon also plans to lease 1 million square feet (92,903 square meters) of office space at Savanna’s One Court Square in addition to the new development. 
 
Citigroup, the building’s anchor tenant since it was constructed in 1990, plans to move most of its employees out and vacate space across 31 floors in 2020. The bank has the option to consolidate its footprint into the remaining 400,000 square feet (37,161 square meters) in the property after 2020, but it hasn’t said whether it will do so. 
 
The banking group separately announced that it would move 1,100 workers out of the building over the first half of 2019 to make way for the new tenant and into the company’s newly renovated 38-story headquarters at 388 Greenwich Street in Tribeca. The company currently has 3,000 workers in the glass-clad tower next to the Court Square subway station. 
 
For more on this story, go to New York YIMBY and Commercial Observer.