KINGSTON: More than 100 business professionals gathered at the Jamaica Performing Arts Center to learn about future commercial and residential opportunities presented by the three major business improvement district organizations in downtown Jamaica.
The event, organized by the Jamaica Business Improvement District, the Sutphin Business Improvement District and the 165th Street Mall Improvement Association, began with an address from Queens Borough President Melinda Katz and keynote speaker Drew Greenwald, a leader in urban renewal projects who is known for redeveloping 125th Street in Harlem.
“The numbers look great, the income density in the area looks good – numerically Jamaica looks great. The challenge becomes how to get from what everyone knows here, that this is an exciting market with exciting opportunities, to the next level,” said Greenwald, who mentioned that Jamaica reminded him of what Harlem looked like 10 years ago. “Your strongest market is the people living in the community and those that are working in the community.”
Greenwald emphasized that downtown Jamaica, surrounded by a major transit hub, had real potential for business and mixed-use buildings. Frank and ready with numbers for future investors, Greenwald mentioned that retail and restaurant businesses could be successful but office space might not show the same investment return.
“Jamaica has potential for a strong retail market,” said Greenwald. He also mentioned that streetscaping, fixing storefronts and mixed-use properties will be important and fruitful investments that business owners could make in the area.
The event took participants on bus tours, provided by World Casino Resorts, with guides to point out over 30 vacant and/or soon-to-be-vacant sites that are slated for redevelopment – from along Sutphin Boulevard to 168th Street off Jamaica Avenue.
“Technology, transportation and tourism – downtown Jamaica is that trifecta. We are going to be one of the first neighborhoods in NYC to receive wi-fi i,” said Rhonda Binda, the executive director of the Jamaica Business Improvement District.
Binda mentioned that bringing new technology to the area is the beginning of bigger and better opportunities to come for downtown Jamaica. With two colleges in the vicinity, downtown Jamaica is a college neighborhood and the goal is to keep those college students in the area to shop, eat and spend time.
The groundbreaking for a Hilton Garden Inn, 26-story hotel will have 240 rooms, on the corner of Sutphin Boulevard and 94th Avenue, directly across from the AirTrain, LIRR, and the subway, is set to begin later this year.
Another major development will be a mixed-use residential and retail complex at the corner of Sutphin Boulevard and Archer Avenue, with 100,000 square feet of retail and community facilities, along with 580 mixed-income residential units and 300 underground parking spaces.
A survey conducted by all three BIDs revealed that most area residents, workers, students and shoppers wanted more restaurants, retail options and entertainment in the area.
Towards the end of the event, a panel of local business owners discussed the opportunities they have gained while owning and operating businesses in downtown Jamaica. They talked not only about what they would like to see more of in the area to help grow their own businesses, but how the economy of the whole area could be improved as well.
