Rendering
June 8, 2017 By Jason Cohen
An eight-story building offering commercial and retail space is scheduled to open in Court Square next year.
The Vorea Group, which purchased a 99-year lease for the property at 23-20 Jackson Ave in 2016, is developing the site that its calling Jackson Square. The building, which will not include apartments, will be located across from the Court Square subway station, and will open in the fourth quarter of 2018.
The first three floors will be for retail tenants and total 30,000 square feet. The top five floors will be for commercial tenants and will total 53,320 square feet.
Peter Papamichael, principal of The Vorea Group, said he aims to entice businesses to the building by promoting the City’s Relocation and Employment Assistance Program (REAP) that offers tax credits when businesses relocate outside of Manhattan.
Businesses receive $3,000 per eligible employee.
Papamichael said that that there has been a lot of interest in the building given its proximity to Manhattan as well as to the airports.
“We’re seeing serious interest from office tenants in the healthcare and design industries,” Papamichael said. “But Jackson Square is a great building for any company since it offers great visibility and accessibility.”
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15 Comments
Here come more chain stores. Who else will be able to afford the rent?
This is amazing. Build more!!
I live on Pearson street where this is going up on the corner with Jackson and actually think the 8 story commercial building is a good fit for the location. The cab dispatch office is sort of disused and has only been used for film shoots recently. This will hopefully also rid the block of the cab layover parking area which doesn’t need to be there. HOWEVER…The volume of development in the area, the amount of construction projects taking place at the same time, is fairly aggravating. The former union hall next to the Court Square diner is scheduled be demolished to make way for a 12 story building and the former 5pointz site is current under construction. 5pointz construction is going on 7 days a week, is excessively loud, and apparently the only means of communication for all workers on that site is screaming at one another. During lunch breaks large groups of construction workers from all the local sites congregate across the street from my house on Pearson, throw garbage everywhere and smoke weed like it’s a Grateful Dead concert. No clue why Pearson street has become the lunch hangout area but i wouldn’t even mind if they didn’t use the entire street as a garbage can. It just seems to me there is a way to go about this without being totally discourteous to everyone who has been living here for years.
Agreed. Enough is enough. And the 5 Points building project is using non-union labor, so that makes it even worse. I hope all the future tenants will know that their building was constructed by unskilled guys that were high as hell.
There is way to much going on as is, and it screams bubble. Can’t come soon enough in my opinion, and I don’t understand all the assholes that want to live in some brand-new, shiny invented “neighborhood.” They should leave NYC if that’s what they really long for.
Maybe it is time for you get some of that Olde Tyme New York feel and move to Newark, or, better yet, Detroit.
The existing building was a car dispatch office … being replaced by another commercial building. It’s not like it’s replacing affordable residential … quite frankly it’s some of the more sensible development in that area … office space and retail near the subway …? What, now every piece of private land should be mandated to become affordable housing when someone wants to build on it?
Notice they had to give a ta break of $3,000 per employee to try and lure businesses. Why isn’t the supposed great location near the subway enough in a supposed Up and Coming area???
Stop the Building already!!!!!!!!!!! What will happen to the existing businesses there??????????????????????????
Where is the affordable housing we were promised??????? Stop building already, enough is enough. What a JOKE !!!!!!!!!!!!!!!!!!!!!!!!
Commercial has nothing to do with housing. There are no apartments in this project. People need a place to work and shop too. This will give 8 times the amount of businesses and job opportunities. Not everything has to be residential and not all development is bad. Why do you want to see affordable housing? any artificially lowered housing removes units from the free market tightening supply and raising rents. Affordable housing increases the rents of everyone else! If rent stabilization went away tomorrow and 1 million units became free market virtually every rent in the city would significantly drop with the exception of the high end market. So please stop with all the complaining.
Anonymous:
I agree that commercial RE is good especially in this area. Your reasoning that about affordable housing increasing rents makwa no sense at all. Your comment about getting rid of Rent Stabilized units will lower rents is also flawed and unrealistic. Where are you getting this information from? Do you have any studies or statistics that prove this? I think not.
I want to see affordable housing so people who aren’t affluent can afford to live in a too expensive city to live in, and getting worse. Maybe you don’t but many do.
Anonymous- You said it “virtually”. You market enthusiasts are so gullible.
The building is tiny and prices will only work for tenants coming from Manhattan who are paying higher market rents. Existing companies in Queens will probably not benefit unless rent is $35-40 sf
It’s bound to be higher
The retail cost wil be too much for local business in our area
That’s been the trend at least
No affordable housing!!!!