The Real Deal New York

Jamaica hits a development tipping point

Queens nabe sees waves of new towers rise as developers grab cheaper land

February 12, 2015 10:30AM
By Rich Bockmann

A rendering of the Crossing at Jamaica Station

A rendering of the Crossing at Jamaica Station

From the February issue: Stakeholders had high hopes for Downtown Jamaica when the city rezoned 368 blocks in 2007. The Queens neighborhood had all the makings of a real-estate hotbed at the time: great transportation, retail infrastructure and cultural institutions. It had been largely left behind as other parts of the city gentrified and prospered, and planners thought the 2007 rezoning would finally provide a springboard to boost the neighborhood’s fortunes. Then came the financial crisis. Southeast Queens became the city’s epicenter for foreclosures, and grand schemes were put on hold. [more]

  • Kent

    From what a source tells me, the hotel is a pipe dream. The partner they speak of with the litigation has filed an appeal that looks like a home run.

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