Following 11 years in the planning and approval process, Summit Development and Greenfield Partners broke ground earlier this week on the retail portion of Chappaqua Crossing. The project is an expansive mixed-use development located on the former Reader’s Digest office campus at 480 Bedford Road, in Chappaqua, a northern Westchester County hamlet in the Town of New Castle. The retail portion includes the build-out of 120,000 square feet of commercial space, including a 40,000 square-foot Whole Foods, a Life Time gym, and other shops and restaurants. The Grossman Companies is partnered in the retail portion and the supermarket is expected to open in 2017.
Tishman Speyer is now working to develop two more office towers on the same block as Two Gotham Center, the 22-story office building the developer built in 2011 at 42-09 28th Street, in Long Island City’s Queens Plaza section. According to The Real Deal, one of the buildings, dubbed One Gotham Center, will be a 29-story, 583,000-square-foot property with 20,000 square feet of retail space. It will include 200 parking spaces. Last year, WeWork signed a lease for 200,000 square feet of space in it. The second building, dubbed Three Gotham Center, will be a 30-story, 515,000-square-foot property with 11,000 square feet of retail space. WeWork has already leased 258,000 square feet of space in Three Gotham Center, according to EB-5 documents. The developer hopes to accumulate $145 million in financing from the EB-5 program. A targeted completion date has not given.
In the summer of 2015, Chelsea-based Alfa Development entered into contract to acquire the development site spanning 253-261 Third Avenue (a.k.a 200 East 21st Street), in Gramercy, and now the developer is planning a 20-story, 65-unit mixed-use building. The Real Deal reports the project will measure 104,700 square feet in total and will include 7,200 square feet of ground-floor retail space. The rest of the new building will contain 65 condominium units, which will come in one- to four-bedroom layouts. BKSK Architects will be responsible for the design. Reportedly, the developers filed permits for the project, although they have yet to hit public record. Demolition permits, however, are on file for all of the assemblage’s existing buildings. Four three-story structures are to be demolished at 253-259 Third Avenue, and a five-story, 12-unit tenement building at 200 East 21st Street will be razed.
Back in 2013, the Greater Jamaica Development Corporation (GJDC) and Blumenfeld Development Group signed an agreement to build a 160,000-square-foot retail complex accompanied by a 550-space parking garage across two vacant lots in downtown Jamaica, specifically at 90-01 168th Street and 90-02 168th Street. Then early last year, the developers said they would build an additional 105,000 square feet of retail space and an affordable residential building. DNAinfo now reports the 2013 deal has terminated, effectively halting any plans for the sites. At this point, the GJDC plans to release a new and updated Request for Proposals (RFP), that will more than likely include affordable housing, for both properties later this spring. Both lots are currently being used for surface parking.
Midtown-based Bridgewater Capital has acquired the vacant 38.8-acre swath of land at 1 Nassau Place, on Staten Island’s South Shore neighborhood of Tottenville, for $30 million. According to The Real Deal, the developer plans to rezone the property, likely through the Urban Land Use Review Procedure (ULURP), to build a multi-building residential complex with roughly 220,000 square feet of big-box retail space. Under current zoning, the property could accommodate 3.5 million square feet of industrial or commercial space (in the form of office and retail). Bridgewater hopes to have a partner in the residential component, which would include senior units, and is currently negotiating with New Hyde Park-based Kimco Realty to partner in the retail portion. The site is located directly north of the Nassau station on the Staten Island Railway.