Beijing-based Xinyuan Real Estate has acquired the dilapidating RKO Keith’s Theatre, of which the interior is an individual landmark, at 135-35 Northern Boulevard, in downtown Flushing, for $66 million. Xinyuan plans to redevelop the property into a 16-story, 269-unit mixed-use building dubbed Flushing Square, Real Estate Weekly reported. The project will encompass 372,598 square feet and will host retail space on the ground and second floors. Pei Cobb Freed & Partners will be responsible for the design. Although redevelopment plans were first filed as far back as 2003, the new architect will likely file new permits with the Buildings Department. Regarding the landmarked interior, Pei Cobb Freed will also have to seek approval from the Landmarks Preservation Commission if the firm’s vision differs from those previously approved plans. The site was placed on the market earlier this year after the previous owners, JK Equities, acquired it in 2013 for $30 million.
The F&T Group recently finished its sprawling, mixed-use development called One Fulton Square in downtown Flushing. Now, the local builder is moving forward with its next big mega-project, Two Fulton Square, which will replace the former Flushing Mall.
Foundation work is now underway on the site of a long-stalled-out hotel development at 36-18 Main Street, in Downtown Flushing. YIMBY can bring you news of the construction thanks to a photo posted to the YIMBY Forums by JC_Heights. Building permits for the project, which date back to 2004, detail plans for a two-tower, 12-story multi-use commercial complex that encompasses 290,195 square feet. Commercial-retail space will be located on the ground through forth floors in a common podium. One of the towers will contain a 148-key Hotel Indigo on the fifth through 11th floors. The other tower will feature medical offices on the fifth through 11th floors. The complex will also feature restaurants on the third and 12th floors. It will be served by a 345-car underground garage and have storage for 31 bikes. JWC Architect Engineer is the architect of record, while CMA Landmark Associates is developing. Completion is expected in 2018, per a Queens Courier update from 2014.
Back in November of 2014, YIMBY revealed renderings of the planned 13-story, 88-unit mixed-use building at 142-38 37th Avenue, in downtown Flushing, located three blocks from the Main Street Station on the 7 train. The project, dubbed East West Tower, is still under development, as its developer, Long Island-based Kenny Liu, has recently submitted plans to the Attorney General’s office detailing the project’s estimated sellout. The building is being valued at $95.5 million by the developer, according to The Real Deal. The 160,122-square-foot structure will host 26,791 square feet of community facility space across the ground and second floors. That space will be split between 18 doctors offices. Residential condominium units will begin on the third floor and should average 731 square feet apiece. There will be a 142-car parking garage and a fitness center in the cellar. Maspeth-based Architects Studio is designing and construction is quietly underway.
A major milestone was recently reached by a 1.8-million-square-foot mixed-use development under construction in downtown Flushing, Queens.