Muss Development is unveiling its plan to build a $600 million mixed-use development on a 14-acre brownfield site in Flushing, it announced yesterday. The project will create 725,000 square feet of retail space, six condominium and rental buildings with 1,000 residential units, and a 55-footwide waterfront esplanade along the Flushing River.

“There will be some affordable housing in the units, but we are still discussing with the Housing Development Corporation which program we are going to participate in and what the breakdown will be,” a senior vice president of the company, Jim Jarosik, told The New York Sun.

The complex, located at the corner of College Point Boulevard and Roosevelt Avenue along an abandoned industrial strip, will create more than 2,000 permanent jobs and 5,000 construction jobs, according to a report commissioned by Muss. The firm also estimates the city and state will generate about $28.5 million in annual tax revenue from the project.

The development is planned for a site near the No. 7 subway line, and is within walking distance of Shea Stadium and Flushing Meadows-Corona Park. Two anchor tenants with multiple locations in New York City have already signed leases at the retail complex, Mr. Jarosik said, adding he was unable to release the names of the ten ants until construction begins later this year. The retail portion of the development is scheduled to open in the fall of 2007, with the first residential apartments to open in 2008.

As an incentive for developers to build on vacant or underutilized land, often former industrial sites that have environmental problems, the city enacted a brownfield program in 2003 to give builders tax credits. The credits are intended to offset the expenses associated with property taxes, site preparations, and property improvements that come with building on a brownfield.

Under the brownfield program, Muss is receiving a number of tax credits. Mr. Jarosik declined to reveal the details of the breaks.

The developers focused on residential and retail development instead of a hotel or office space because “downtown Flushing is a very under-retailed market, and there is an extremely low vacancy rate, so we decided to fill these needs,” Mr. Jarosik said.

“The Muss Development project represents one of the largest investment in recent years in Queens County,” a Council Member who represents the area, John Liu, said in a statement.

“The substantial project will help anchor smaller local businesses by generating new economic activity and encouraging visitors,” said the Queens borough president, Helen Marshall.