NYC's Fastest-Growing Neighborhood Gets $180 Million Investment

(Bloomberg) -- Long Island City, New York City’s fastest-growing neighborhood, will get a $180 million infusion of capital to build and improve schools, streets and parks, Mayor Bill de Blasio said.

The plan is part of an investment strategy under development for three years, a period in which the Queens neighborhood across the East River from Manhattan has led a citywide building boom. Apartment towers have sprung up in Long Island City, with 1,436 new housing units approved in the 12 months ending July 1.

Investments will include $95 million for sewer and water main improvements; $60 million for a new school; $10 million for street reconstruction and $15 million for improvements to parks, according to a statement from de Blasio’s office.

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