48-room Hotel Planned in Jamaica
As Jamaica emerges to become the latest frontier of development in the city, a developer has initiated plans to build a hotel on the site of a vacant, three-family home right in the center of the neighborhood.
Just recently, developer CPEX announced the completion of the $1 million sale of 145-07 95th Ave. in Jamaica to Pride Hospitality. The latter plans to demolish the home built thereon, to make way for a 48-room hotel on the site.
CPEX deem the site to be ideal for a hotel development with the location being within walking distance of the Jamaica Station, connecting commuters with the E and J/Z subway lines, the Long Island Rail Road and the AirTrain to John F. Kennedy Airport.
This new hotel, once built, will go up two blocks away from the corner of Archer Avenue and Sutphin Boulevard, where the BRP Development Corporation in turn plans to build a $225 million, 22-storey tower with 80,000 square feet of retail space and 400 apartments.
According to Sean Kelly, managing director of CPEX, “We are big believers in the Jamaica, Queens market. Developers’ confidence in this market continues to grow. They are attracted by the density, flexible zoning, affordable land prices, some of the best transportation in all of New York City and the established retail and office market in this central business district.”