Rockrose other Queens winner

Real Estate Weekly, March 7, 2001 by Elaine Misonzhnik

Named residential developer for Pepsi site

It seems like the Queens West project is finally ready to take off. On Feb. 28, the Empire State Development Corporation announced that is has selected Rockrose Development for the completion of the 3 million SF residential development at the former Pepsi-Cola site.

With LCOR being selected to undertake the development of the commercial component of the project last month, and AvalonBay already at work on three luxury apartment buildings in the area, the future of the long-forsaken property seems to be taken care of.

In an official statement issued by the Empire State Development Corporation, Charles A. Gargano, the chairman of the organization, expressed his enthusiasm about the progress of the project.

"Queens West is one of the most exciting development projects in New York today," he noted. "We look forward to finalizing the deal with Rockrose and continuing the momentum we have achieved at Queens West over the past few months."

Rockrose's vision for the property involves seven high-rise buildings, several parks, and a waterfront esplanade.

"We will start site work towards then end of 2001, will work on the public infrastructure, in 2002, and will start our first building in 2003," explained Rockrose's director of planning Jon McMillan. "We plan to open the last building in 2008."

Rockrose has already chosen the architect for the project -- the nationally renowned firm Arquitectonica, famous for its futuristic high-rise designs.

"We want buildings that look exciting from Manhattan, that maximize the view from the river, and that are easy to construct," McMillan said. "And that's what we believe Arquitectonica has designed for us."

McMillan feels that his company got the contract because of its experience in doing government sponsored and residential projects.

"We have terrific experience working with government agencies," he noted. "I think the Queens West Development Corporation was excited about our design and realized that Rockrose was the right company to undertake a project like that."

Among Rockrose's past government sponsored projects are Battery Park City and the Carnegie Hall Tower.

According to Gargano, "The proposal submitted by Rockrose offers the greatest overall benefit to the future of Queens West. The New York City market is crying out for additional housing. This development plan will help fill that need, offer some of the best views of Manhattan available, and create thousands of new construction jobs."

Empire State expects to sign the contract for the property in 90 days. Rockrose plans to invest almost $1 billion in the development.