(NEW YORK, NY) — When will Long Island City begin to see an increase in people?
While Amazon’s news of bringing 25,000 new employees to the neighborhood sent brokers and developers into a frenzy, reports state that Amazon will only add around 700 employees to the neighborhood in 2019.
In a Bloomberg report, Amazon is expected to increase the number of new employees to 3,000 by 2020—the year construction for the new headquarters is set to begin.
As for the full 25,000, the neighborhood won’t be seeing that total until around 2028.
In the meantime, developers and brokers alike are investing in properties and anticipating a drastic rise in price. So, while the Amazon effect is already impacting the interest in the housing market, the residents who are already there have some time to relax before jam-packed trains and increased foot traffic.