LIC Summit Set to Explore Residential Real Estate Growth and Zoning Challenges
Local Leaders, Developers, and City Officials Convene for Insights into the Future of Long Island City
FOR IMMEDIATE RELEASE
Contact: Sierra Brown | sbrown@licpartnership.org | (718) 705-9941
Long Island City, New York (October 02, 2024) – Long Island City Partnership (LICP) will host its annual LIC Summit, themed “Building Tomorrow: LIC's Growth & Vision,” on Tuesday, October 8, 2024, from 8:00 a.m. to 2:00 p.m. at the Museum of the Moving Image in Queens. Celebrating its tenth iteration, the summit is recognized as the premier event for discussing the future of Long Island City, bringing together over 300 local leaders, including developers and city officials, to share insights on the neighborhood’s growth trajectory.
As the fastest-growing neighborhood in New York City, LIC faces both exciting prospects and pressing challenges. The summit will provide a timely platform for crucial conversations about shaping its future, featuring in-depth panels on the booming residential real estate market and transformative city planning initiatives. The program will commence with a keynote presentation featuring Laura Rothrock, president, Long Island City Partnership; Basha Gerhards, senior vice president, Real Estate Board of New York (REBNY); and New York City Deputy Mayor for Operations Meera Joshi.
"The upcoming LIC Summit is crucial for shaping the future of our community. With discussions centered around our residential real estate boom and strategic city planning initiatives, we’ll explore the collaborative efforts needed to sustain LIC’s growth,” said Laura Rothrock, president, Long Island City Partnership. “Engaging with a diverse array of stakeholders will allow us to identify solutions that enhance our neighborhood’s appeal and accessibility, ensuring Long Island City remains a thriving hub of opportunity and innovation."
Following the keynote address, the first panel, titled “Going Up: LIC Residential Real Estate Update,” will bring together stalwarts of LIC’s residential real estate landscape, including representatives from The Durst Organization, Rockrose, Modern Spaces, and United Construction, among others. These industry experts will share insights into LIC’s booming residential market, exploring how factors like 485X and construction costs influence housing prices. The discussion will also address the essential neighborhood services and amenities required to attract and retain residents.
“With over 30 years dedicated to the development of LIC’s residential and retail sectors, I am looking forward to this panel discussion. We’ll be exploring the strategies necessary to ensure sustainable, continued growth for the neighborhood,” said Patricia Dunphy, senior vice president, Rockrose Development Corporation and LICP Board Chair.
The final panel, “Opportunities for Growth: LIC’s Studies and Plans,” moderated by Deputy Borough President Ebony Young, will examine significant planning initiatives in LIC, including the LIC Neighborhood Plan, Heart of LIC, Renewable Ravenswood, and the Downtown Revitalization Initiative (DRI). This panel will explore how these initiatives can work together for the continued betterment of the neighborhood.
"An integrated planning approach is key to ensuring Long Island City's ongoing development benefits all of our neighbors," said Wil Fisher, director of external affairs, Rise Light & Power. "Our Renewable Ravenswood vision proposes repurposing New York City's largest power plant as a clean energy hub. In partnership with Queens Borough President Donovan Richards, Jr., and NYSERDA, we're nearing completion of a master planning exercise to ensure this transition maximizes environmental justice, career opportunities, and connectivity along Vernon Boulevard."
Queens Borough President Donovan Richards also noted: "Long Island City has gone through an immense transition in recent years, from its roots as an industrial community to a hub of technology and innovation. Ensuring this transition supports both new and long-standing residents alike is a top priority of my administration and the work of community leaders. I look forward to the critical conversations around this issue and others at the LIC Summit. From our development of the new Queens Tech Hub to expanding our affordable housing stock, collaboration is central to those efforts, and I encourage anyone with a stake in the future of Long Island City to be a part of this dialogue."
Additionally, LICP will release its biannual Neighborhood Snapshot, sharing the latest data on the neighborhood’s dynamic growth and future outlook. The summit offers a valuable opportunity to explore the evolving trajectory of Long Island City’s development. For more information about the LIC Summit and to register, please visit LICSummit.com.
About Long Island City Partnership:
Long Island City Partnership (LICP) is the Local Development Corporation (LDC) for Long Island City (LIC), Queens. LICP champions economic development efforts that benefit the neighborhood at large, along with its members, composed of businesses and organizations reflective of LIC’s industrial, commercial, retail, science and technology, residential, cultural and tourism sectors. LICP works to attract new businesses to LIC, retain those already here, engage residents and visitors, and promote a vibrant and authentic mixed-use community. LICP also manages the LIC Business Improvement District (LIC BID) and LIC Industrial Business Zone (LIC IBZ), providing business services and assistance.