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

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

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.

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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.

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[Crain’s] — Holden Walter-Warner