[Congressional Record (Bound Edition), Volume 152 (2006), Part 10]
[Extensions of Remarks]
[Pages 14016-14017]
[From the U.S. Government Publishing Office, www.gpo.gov]




          ECONOMIC REVIVAL OF FLUSHING: ALL DUE TO IMMIGRANTS

                                 ______
                                 

                         HON. CHARLES B. RANGEL

                              of new york

                    in the house of representatives

                         Tuesday, July 11, 2006

  Mr. RANGEL. Mr. Speaker, I rise today to introduce an article titled 
Changing Face of Queens: From Small Asian Shops to High-End Stores from 
the June 28 edition of the New York Times. The article, by Alison 
Gregor, describes the economic development of Flushing and the large-
scale mixed use condominiums that are being built in the area. It is 
evident that ethnic tradition and culture are the driving force behind 
these developments.
  There is a huge Asian population in Flushing that has disposable 
income that is currently shopping in Manhattan or even in Manhasset on 
Long Island. The retail potential of the neighborhood has attracted 
commercial developers and big-name businesses. The presence of the 
thriving immigrant community is the lure that is drawing the developers 
and spurring the revival of the desolate West Flushing neighborhood.
  In fact, Queens Crossing, a 12-story office condominium project, is 
being built by Mr. Michael Lee, president and CEO of TDC Development 
L.L.C. and a longstanding resident. With the added convenience that 
Flushing has to offer, Queens Crossing is going to be a destination for 
shopping, food, entertainment, education, medical and business 
services. Queens Crossing is only the first in the line of many 
development projects that are going on in Flushing. The Flushing 
Commons, under the direction of TDC Development and the Rockefeller 
Development Corporation, an even more ambitious project, is expected to 
be completed in about four years. Lastly there is the Flushing Town 
Center of the Muss Development Company, the largest mixed-use 
development project in New York City.
  The United Nations has recently reported on the beneficial effects of 
the immigrant population to their newly adopted countries. The renewal 
of Flushing is a real example of such an effect, repeating what the 
immigrants are doing to all our New York City to improve our 
communities. We are experiencing a wonderful revitalization of New York 
City because of

[[Page 14017]]

our traditional role as a welcoming city for the pursuit of the 
American dream.
  I wish to draw the attentions of my colleagues to the redevelopment 
of Flushing neighborhoods and remember the positive aspects of 
immigration.

   Changing Face of Queens: From Small Asian Shops to High-End Stores

                           (By Alison Gregor)

       If you're looking for cafes serving bubble tea or 
     herbalists offering dried lotus blossoms or purveyors of 
     waving-cat trinkets, downtown Flushing, the city's second-
     biggest Chinatown and the largest urban center in Queens, has 
     them in large quantity. But in the next few years, the area 
     may also welcome a host of more mainstream retailers.
       Almost 1.3 million square feet of retail space is planned 
     in at least three major mixed-use developments--about the 
     same area as at the renowned Mall at Short Hills in New 
     Jersey--and a few hundred thousand feet of office space is 
     also being developed. The first new stores are to open by the 
     end of this year.
       Flushing is already a pan-Asian enclave that is a first 
     stop for many immigrants from China, Korea and Malaysia, 
     among other countries.

       Developers are hoping it will soon be a stop for American 
     shoppers. ``You have to make this area a destination,'' said 
     Michael Meyer, president of TDC Development L.L.C., which is 
     involved in two of the mixed-use projects.

       Mr. Meyer is relatively new to the community. But the 
     chairman and chief executive of TDC, Michael Lee, an 
     immigrant from Taiwan, arrived in Flushing two decades ago 
     and has purchased a substantial portion of the area's 
     properties. TDC is a subsidiary of the F&T Group, a real 
     estate company.

       Mr. Lee owns the Flushing Mall, a longstanding collection 
     of boutique shops and restaurants on 39th Avenue, where signs 
     are in Chinese and Korean. He also developed the nearby 
     Prince Center in 2003; it is a complex of ground-floor retail 
     space, now full of restaurants, and office condominiums that 
     netted about $500 a square foot.

       Office condos are fairly unusual for New York City, but the 
     market is receptive in Flushing. ``What drives a lot of this 
     is the whole ethnic tradition and culture; the Chinese 
     mentality is very much an ownership mentality,'' Mr. Meyer 
     said.

       Mr. Lee is building another office condominium project: 
     Queens Crossing, a 12-story building being framed at the 
     corner of Main Street, Flushing's main shopping artery, and 
     39th Avenue. It will have 190,000 square feet of office space 
     in about 80 office condominiums, and 86,000 square feet of 
     parking.

       The building has a waiting list of more than 200 
     businesses, Mr. Meyer claimed. ``Queens Crossing sales, on a 
     net square footage basis, are now estimated at $750,'' he 
     said.

       The development will also have about 110,000 square feet of 
     retail space, which has not yet been leased. It will open by 
     the end of this year. ``We're looking for mainstream 
     retailers like bookstores and health clubs and restaurants 
     and apparel stores,'' Mr. Meyer said.

       But Queens Crossing would be dwarfed by another proposed 
     development a block away called Flushing Commons, which 
     envisions having a total of almost two million square feet. 
     Flushing Commons is expected to be completed in about four 
     years on the site of a municipal parking lot that now has 
     space for about 1,100 vehicles.

       That development, with 500 residential units and about 
     350,000 square feet of retail space, will aim to attract more 
     upscale retailers than currently operate in Flushing. While 
     the city has given approval to the general concept of this 
     project, it is still going through public hearings.

       Thus far, the developers of Flushing Commons--Mr. Lee and a 
     partner, the Rockefeller Development Corporation--envision 
     that much of the retail space will be used by a multiscreen 
     cinema, a national-chain bookstore and a supermarket like 
     Whole Foods, along with some smaller stores. Roughly 15,000 
     square feet of space dedicated to office condominiums is 
     being envisioned for professionals like doctors and lawyers.

       Flushing Commons will also include a 200-room hotel, where 
     developers would like to see a Westin, Mr. Meyer said.

       Alan L. Stein, a senior vice president at Rockefeller, said 
     the developers, which won a bid to develop the city-owned 
     property a year ago, had promised not to introduce any ``big 
     box'' stores into the complex.

       Robin Abrams, an executive vice president of the Lansco 
     Corporation, a commercial real estate brokerage firm that 
     consulted on the project, said she envisioned retailers like 
     Scoop, Cole Haan and Sephora setting up shop in the 
     development.

       Stores like those ``are all over Manhattan, but don't have 
     a presence in Flushing,'' Ms. Abrams said. ``Frankly, the 
     thought is there's a huge Asian population that has 
     disposable income that is currently shopping in Manhattan or 
     even in Manhasset'' on Long Island.

       Mr. Meyer said that some retailers might be intimidated by 
     the ethnic nature of the market, but that the developers 
     believed they could convince them that they had nothing to 
     fear.

       Also, retailers that already have outlets in Asia would be 
     comfortable in downtown Flushing, said Josh Segal, owner of 
     the Segal Realty Group, a commercial real estate firm that 
     also consulted on Flushing Commons. ``It's like Shanghai on 
     the Flushing River,'' he said.

       Already going in alongside the Flushing River is one of the 
     largest mixed-use developments. The Muss Development Company 
     is building 1,000 residential units in several towers on a 
     l4-acre site. The $800 million project will also include an 
     800,000 square- foot shopping center anchored by national 
     retailers.

       The first phase of the project will not be completed until 
     2008 at the earliest, said Jim Jarosik, a senior vice 
     president at Muss.

       Flushing residents are watching the explosion of commercial 
     development closely. Real estate professionals say Home Depot 
     and Target are rumored to be anchor tenants at the Muss 
     project, which is called Flushing Town Center, although the 
     developer would not identify the stores it was negotiating 
     with.

       Some Flushing residents say they believe that if retailers 
     of that sort go into the development, there may be traffic 
     backups along Roosevelt Avenue, said Chuck Apelian, vice 
     chairman of Community Board 7, which represents downtown 
     Flushing.

       Downtown Flushing, a transportation hub that has 24 bus 
     lines and the terminus of the No. 7 subway, is an area that 
     is used by nearly 100,000 commuters daily, according to the 
     Downtown Flushing Transit Hub Business Improvement District, 
     and has become synonymous with traffic congestion. A group 
     called Save Our Flushing Community has formed to protest the 
     Flushing Commons project. Others maintain that additional 
     traffic snarls would not hurt business.

       Even if retail rents head far north of the $100 a square 
     foot paid at certain locations on Main Street, the owner of 
     Pho Vietnamese on Prince Street, Tai Ma, who has lived and 
     worked in Flushing for 29 years, said he welcomed the new 
     commercial development. ``The rent here is going high 
     anyway,'' he said. ``If you want to develop Flushing, you 
     need something big.''

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