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JV Plans $260M Queens Mixed Use
By Ian Ritter
JAMAICA, NY-A consortium of developers is planning a 929,000-sf mixed-use center in the downtown area of this Queens neighborhood. Called Techno Mart Queens, the $260-million project will have 172,000 sf of retail on the first three floors, while the remaining 10 stories will house a wholesale-electronics merchandise mart.
The development is going up on the site of a former meatpacking plant on Sutphin Boulevard. It will also be next to the AirTrain shuttle at the Jamaica train station, which transports travelers to John F. Kennedy International Airport.
Techno Mart Queens is part of an "airport village" that they are envisioning, says Carlisle Towery, president of the Greater Jamaica Development Corp. The center is expected by local officials to employ about 3,000 people.
The developers, through a venture called JFK Associates, are Kingsbridge-Jamaica Co., HRH AC Development Group, and Prime Construction Co. Kingsbridge-Jamaica is led by Paul Travis and James Levin, developers who built the River Plaza shopping center in the Bronx. HRH AC is a partnership between area-based HRH Construction and Acreciti Development Group. Prime Construction is based in Korea.
Prime is modeling the center after a similar development in Seoul, called East Techno Mart, which it constructed in 1998. The company is working on a second development in that city and has plans for a fourth, in China."
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