(Save the date: RealShare New York comes to the Grand Hyatt, New York, NY, October 9.)

NEW YORK CITY-With development parcels becoming scarce along the East River waterfront in Northwestern Queens, Astoria – the area known for Greek culture, ethnic cuisine and family-owned low-rises and row houses—may be going vertical, and soon. Given a steady uptick in renters as well as buyers in neighborhood, investor and developer appetite is increasing steadily toward the area’s eastern end near the Triboro Bridge.

The trend comes nearly two years after the New York City Department of City Planning adopted a rezoning plan for a 238-block swath stretching from the East River roughly from 36^th Avenue to 20^th Ave. and as far east as the Brooklyn-Queens Expressway and LaGuardia Airport. The legislation, which received a final vote by the City Council in May 2010, aims to preserve the existing scale and character of the area, while also paving the way for a “modest increase” in residential and commercial density.