Something is going on in Jamaica, what, I am not exactly sure, but developers are buying up land and million dollar projects are beginning. No doubt some big things are in store for Jamaica in the next couple of years and if all goes plan, 5 years from now the area could look very different than it does now and in ten year, it might be unrecognizable. Jamaica could become the Downtown Brooklyn of Queens.
The property just bought is one big major eyesore (not unlike many other areas in downtown) right now. More upsetting, that this mess sits right across from York College. How do Jamaica leaders sleep at night, knowing that have done little to improve Jamaica for decades and looked the other way.
Hopefully all this action will change the landscape of Jamaica from third world & ghetoo dreck to how a major area in New York City should actually look like.
As far as I am concerned this is good, because right now a good bit of Jamaica is crap, especially the downtown area and has been for decades. But as I have said before and many times, we need completely new leadership. But if Jamaica begins to change, so will the population and the make up of the people and I feel the old school useless and corrupt status quo leader’s days will eventually come to an end.
I do smell some gentrification………………………………………………….
From DNAinfo New York:
Developer Spends $22M to Buy Largest Piece of Jamaica Land in a Decade
QUEENS — A Flushing-based company dropped $22 million to buy the largest property in Downtown Jamaica in nearly 10 years — and are planning to build market rate housing along with retail, sources said.
The project is the latest among a number of new real estate developments proposed for downtown Jamaica, which has been dynamically changing in recent years.
Jamaica Tower LLC bought the property at 163-05/25 Archer Ave., at Guy R. Brewer Boulevard, from Gertz Plaza Acquisition, according to Massey Knakal Realty Services, which facilitated the transaction.
The lots have the total space of nearly 90,000 square feet and buildable space of 720,000 square feet.
It’s the largest property sold in the Downtown Jamaica area in nearly 10 years, according to Brian Sarath of Massey Knakal.
Other large properties purchased in the area during the past decade include Jamaica Center, where the Jamaica Multiplex is located, which was bought in the early 2000s.
There is also a lot at Archer Avenue and 168th Street, acquired in 2005, where a Home Depot was built, according to Sarath.
“This sale signifies the return of the residential development market in Downtown Jamaica,” said Sarath in a statement, adding that more than 10 developers have expressed interest in buying the property.
“It is the largest site to trade since the [economic] downturn and will be a catalyst for the Jamaica development market moving forward.”
The Flushing-based group also owns another site on Archer Avenue, near 149th Street, where the company is planning to build a hotel, sources said.
The group did not return phone calls seeking comment.