Shorewood plans 227K-sq ft mixed-use project in Jackson Heights

Development at current site of Food Bazaar to include 125 residential units

New York /
Jul.July 27, 2021 09:30 AM
34-20 Junction Blvd in Jackson Heights and Shorewood CEO S. Lawrence Davis (Google Maps, Shorewood)

34-20 Junction Blvd in Jackson Heights and Shorewood CEO S. Lawrence Davis (Google Maps, Shorewood)

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





    Related Articles

    arrow_forward_ios
    The Centre at Purchase at 1, 2, 3, 4 Manhattanville Road with George Comfort & Sons CEO Peter Duncan (George Comfort & Sons)
    Westchester office park owned by George Comfort & Sons slated for auction
    Westchester office park owned by George Comfort & Sons slated for auction
    Wells Fargo hit with $400M suit for breach of contract linked to robo-signing scandal
    Wells Fargo hit with $400M suit for breach of contract linked to robo-signing scandal
    Wells Fargo hit with $400M suit for breach of contract linked to robo-signing scandal
    Attorney General Letitia James and A&E Real Estate CEO James Patchett (Getty, iStock)
    A&E pays just $510K in lead-paint settlement
    A&E pays just $510K in lead-paint settlement
    Seeding from recapitalization of 25 health care properties
    KKR, Cornerstone in $1B JV to develop health care facilities
    KKR, Cornerstone in $1B JV to develop health care facilities
    The Broadway location of Halloween Adventure (Facebook via New York Costumes / Halloween Adventure)
    Halloween Adventure to vacate East Village home as retail condo hits market
    Halloween Adventure to vacate East Village home as retail condo hits market
    The slowing of the housing market has squeezed the profit margins of house-flipping investors. (iStock)
    Profit margins on fixer-uppers fall to 10-year low
    Profit margins on fixer-uppers fall to 10-year low
    The Saratoga County construction company owner defrauded homebuyers and lenders out of $1 million, spending money on himself or other jobs rather than the homes he promised to build. (iStock)
    Upstate homebuilder gets prison for failing to deliver
    Upstate homebuilder gets prison for failing to deliver
    Quick turnaround times have luxury buyers considering modular as an alternative to traditional construction for grandiose homes. (iStock)
    Modular construction works for luxury homes, too
    Modular construction works for luxury homes, too
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...