Saturday, July 26, 2008

Koreans pull out of Jamaica merchandise mart

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.’’

8 comments:

georgetheatheist said...

"But the proposed International Merchandise Mart was shelved after it drew opposition from local residents."

Where? In College Point or in Jamaica? Or both areas? Why the opposition?

Queens Crapper said...

Here's more on College Point:

Collegbe Point development

Queens Crapper said...

Sorry for the typo!

Wade Nichols said...

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 NY Times is slacking off a bit. They managed to throw in "vibrant" in an article about Queens, but didn't include "diversity". They also used "airport village" instead of "global village".

Why the hell would anyone want to go shopping by the airport anyways?

Anonymous said...

Better question: what the hell is an "airport village"? Isn't a village where people live? Near airports are not where people want to live or where tourists want to visit.

Taxpayer said...

“The development of this site is a milestone in the history of the College Point Corporate Park,” said Queens Borough President Helen Marshall. “The College Point Wholesale Distribution Center will give new life to a long dormant, but valuable tract of land, and will create hundreds of jobs – many for people who live in Queens. I am delighted that the City is committed to the construction of additional roads that will ease the traffic congestion that has plagued this community for many years.”

But, she's not delighted to announce that the city will commit to the construction of roads and sewers and sidewalks in Willets Point.

Why the difference?

Who will be picking up the tab for the scuttled $260 million mart? Will the developers lose their money? Or, has the Commissar shielded them from that loss by having the taxpayers cover this failure?

Anonymous said...

Why couldn't Queens have had a BP like Marty Markowitz? A brilliant man who takes pride in representing the boro of Brooklyn. Helen Marshall's 8-year stint has left our boro in complete chaos: overcrowded and filthy--- her legacy. This is what we get when the corrupt Queens Democratic machine hand picks who they want.
Queens has become a giant cesspool-
illegal land development and all.
Is it any wonder why we are called the third-world boro?

Anonymous said...

Marty markowitz?? hes a corrupt little bloomberger as well.All NYC politicians are very corrupt,Democrate or republican.What do expect? This is capitalist capital.Its all about money.