According to the Long Island City Partnership, the LIC neighborhood added 87 thousand square feet of retail space in the 4 months leading up to October. We previously reported on Levante‘s grand opening last few month on North Jackson Avenue.
LICLOCAL has reached out to the Partnership to get more information on the new retail space and will provide updates when that information is available.
The LIC Partnership publishes semi-regular Demographic, Real Estate and Retail Data for the neighborhood with their most recent report covering data through October 2017. Find the full neighborhood fact sheet here.
As of October 2017, the population in LIC was over 170,000 residents, an increase of ~1.5% since 2010. This number is expected to grow as massive amounts of real estate development projects continue to increase the number of available residential housing. According the October report, there have been more than fourteen thousand residential units build since 2006 and over nineteen thousand units that are currently being planned or are already in construction.
Despite the fact that many people view LIC as a place to live for an easy commute to Manhattan, there are actually a large number of employees in the neighborhood as well. Silvercup Studios, CitiBank and JetBlue are all major employers who contribute to the over 100,000 people who work in LIC. In total there are over 6,600 businesses here contributing to the local economy.
The Residential Development of Long Island City is often what draws in headlines as the skyline is currently filled with massive residential buildings under construction. The LIC Partnership reports that the total units completed since 2006 is over 14,000 and estimates that the total units in planning or construction phases is over 19,000 units with over 8,100 units to be finished by the end of 2018.
Retail spaces in the neighborhood are also expected to continue growing with the LIC Partnership team estimating that square footage of retail space in the neighborhood will more than double over the course of the next 3 years, going from the existing 352,000 square feet to over 860,000 square feet.