Filings for new construction in Jamaica, Queens, have dropped off since the 421-a tax exemption expired in January. But one optimistic developer has taken the plunge and filed plans for a mixed-use building at 177-14 Wexford Terrace, on the southern edge of Jamaica Estates.
Seven months after the City Planning Commission opened up public review for the East New York rezoning, the City Council has voted to approve the controversial plan to redevelop the Brooklyn neighborhood.
Uncertainty over the future of an important tax exemption for residential construction, 421-a, is forcing developers in the outer boroughs to focus on building office and retail space. The latest example comes to us from East Williamsburg, where the Loketch Group aims to put up a six-story office and medical building.
The South Bronx continues to boom with new affordable and supportive housing projects. Non-profit Services for the Underserved hopes to build a seven-story apartment building at 1434 Undercliff Avenue, in the Highbridge section of the Bronx.
A parking lot for Wyckoff Heights Medical Center in Bushwick is about to become apartments. Owner Sal Mendolia has filed plans for an eight-story residential building at 371 Stockholm Street, between St. Nicholas and Wyckoff avenues.
