Fleet Financial Group, a New York–based urban development and real estate asset management company, has received approval from the New York City Board of Standards and Appeals (BSA) for Eastern Emerald, a new high-end hotel and residential development in Corona, Queens.
Located at 112-51 Northern Blvd., the 25-story, 350,178-square-foot property will rise to a height of 372 feet and encompass a full city block near LaGuardia Airport, Citi Field, Corona Park and Flushing Bay Promenade. The residential component will include approximately 175,000 square feet on the upper levels, and the hotel will encompass 145,900 square feet. The project is scheduled to be completed in 2024.
“The development will also allow for an influx of capital into the area and create a significant number of jobs, further revitalizing the Elmhurst and Corona neighborhoods following the catastrophic effects of the recent pandemic,” said Richard Xia, president of Fleet Financial Group.
