Plans to build a $260 million wholesale merchandise mart cater-corner from the glassy new Air Train station in Jamaica, Queens, have been scuttled because the South Korean co-developer has pulled out of the deal, people involved in the project said on Friday.
Plans for Merchandise Mart in Queens Are Scuttled
The mart, which was to have included 10 floors of showroom space accommodating 500 businesses, was unveiled last October, one month after the area was rezoned to stimulate the development of a vibrant “airport village.’’ The site, on Sutphin Boulevard and 94th Avenue, once housed the Merkel meatpacking plant, which was shut down in 1919.
Paul Travis, the New York developer who spent two years getting the owner of the site to agree to a long-term lease, declined to comment. But Shane Kavanagh, a spokesman for Mr. Travis’s company, Washington Square Partners, acknowledged that a “the weakening global economy has affected the project.’’