Shorewood Real Estate Group is cooking up a mixed-use development at the site of a Food Bazaar in Jackson Heights.
Shorewood filed plans with the Department of Buildings for a six story, 227,000 square foot development at 34-20 Junction Boulevard. The project would include 125 residential units and 108 parking spots, according to Crain’s.
Food Bazaar parent Bogopa purchased the property for $21 million last year. It’s not clear whether the supermarket currently at the site will be involved in the proposed development.
Another development from Shorewood recently displaced a Food Bazaar in Brooklyn, Crain’s added. Construction of an 11-story mixed-use development in Bedford-Stuyvesant closed the supermarket in April, though a renovated version of the supermarket is expected to spring up on the ground floor.
Shorewood is also developing a 240,000-square-foot, 300-unit mixed-use project along Archer Avenue in Jamaica. Last year, Shorewood secured an $88 million construction loan for the project.
New residential projects were down in New York City through the first quarter of the year. Just 98 multifamily projects were proposed, the lowest amount for a single quarter in a decade. The 3,336 housing units included in the projects also marked a 54.3 percent drop quarter-over-quarter and a 49 percent drop year-over-year.
[Crain’s] — Holden Walter-Warner