$225 Million Mixed-Use Tower to Revitalize Downtown Jamaica
By Veronica Grecu, Associate Editor
Greater Jamaica Development Corp. has plans for a mixed-use tower that is expected to revitalize an underdeveloped site at 93-01 Sutphin Boulevard and the corner of Archer Avenue, near the Jamaica AirTrain Station area and across from the Long Island Rail Road station.
According to the Queens Time Ledger, the new high-rise will be developed on land owned by Greater Jamaica and will replace a Duane Reade store which has a lease running through 2018 with an option to renew until 2023.
Dubbed Site 6, the $225 million project will mark the largest private investment in this Queens neighborhood and will be part of the city’s redevelopment efforts to revitalize its downtown area. The 22-story tower will be built by the New York-based BRP Companies, the developer behind Macedonia Church Development Corp.’s 143-unit affordable rental building at 37-08 Union Street.
Reportedly, the tower project will have 400 apartment units, a fitness center for residents and a roof deck. The 80,000-square-foot street level retail space will most likely be occupied by grocery stores. The site is included in New York City’s Food Retail Expansion to Support Health program, which means grocery store operators and/or developers seeking to construct or renovate retail spaces in underserved communities are eligible for up to 20,000 square feet in additional development rights, as well as financial incentives and tax exemptions.
According to the source, in June 2012 Greater Jamaica issued a request for proposals to revitalize the Jamaica neighborhood. A list of redevelopment projects was announced since that time, including a 26-story hotel with 210 rooms that will be constructed south of the AirTrain station.
Image via Google MapsTags: Commercial, Consumer, Conventional - Market Rate, Developers, Greater Jamaica Development Corp., Investors, jamaica, Local, mixed-use, mixed-use project, multi-family, National, New York Lead Story, Professional, redevelopment project, Regional, Residential, retail, Site 6