Recession hinders Rockaways renaissance

March 09, 2009 09:23AM

During the real estate boom, it looked like the Rockaways in Queens would get an influx of new condominiums and retailers, but the recession has slowed development in the area. A stretch of Beach 116th Street in Rockaway Park has the highest proportion of abandoned retail storefronts of any shopping district in Queens, according to a report by Rep. Anthony Weiner’s office. About 500 new condos were planned for the area when its rezoning was proposed in 2006, according to Rose Breslin of West End Realty. Hays Ventures, a real estate investment firm and developer, tried buying up parts of 116th Street. Now, new condos are sitting empty. “If the recession didn’t happen, we probably would have been building,” said Breslin. “116th Street would have been cleaned up.”

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