We last stopped by 11-22 45th Road back in May when a rendering had just appeared on site.1 When we stopped by last week, we saw that excavation has started, as seen in two photos below.
When all is said and done, there will be a series of four-story, two-family townhouses that overlook Murray Park. The permits, approved on May 26 by the Department of Buildings call for roughly 140,000 square feet of residential space per townhouse with a FAR of 2.80.2
Here are more details on the lot from Queens Brownstoner:3
The developers GDC Properties are planning a townhouse development at 11-22 45th Road (between 11th and 21st Streets), now an industrial warehouse they just purchased for $37,000,000. Demolition permits are already in place, and Commercial Observer reports that the new development should take 18 months to complete.

A view of 11-22 45th Road

Excavation is underway

Rendering for 11-22 45th Road