Developers of a plan to transform two parallel open-air parking lots in Jamaica into a massive retail center will also add a housing component to the mix, The Courier has learned.
The project, which has been expanded since an initial announcement in 2013, is a joint effort between the owner of the parking lots near 168th Street and 90th Avenue, the nonprofit Greater Jamaica Development Corp. (GJDC), and Blumenfeld Development Group (BDG).
The GJDC will transfer the lots to Blumenfeld, which will construct a 265,000-square-foot retail center, an affordable housing residential building and a parking garage with about 550 spots to replace the lost parking in the deal. Blumenfeld will return the garage to the not-for-profit agency after completion of the project, according to representatives of the developer. The project is estimated to cost $85 million at this point.
The second parking lot, between 168th Street and 169th Street, will have a retail component to complement the shopping center across the street as well as the residential building and the parking garage.
Blumenfeld has already spoken to a number of big-box retailers to be the anchor tenant of the project, representatives said, including BJ’s, Costco and Burlington Coat Factory.